For about 20 minutes on Wednesday, the market looked a little rattled...

The catalyst was President Donald Trump reportedly telling a room full of Republican lawmakers on Tuesday that he plans to fire Federal Reserve Chair Jerome Powell "soon."

Mr. Market isn't a fan of surprises. The S&P 500 Index went from being up 0.2% on Wednesday morning to down almost 0.6% in about 20 minutes. But then it reversed direction after Trump told reporters in the Oval Office that firing Powell would be "highly unlikely."

By the end of the day, the benchmark S&P 500 had finished slightly higher.

Perhaps the episode was a test to see how the market would react to the idea of replacing Powell before his term is up in May 2026. (It wasn't bullish in the very short term.) It also remains to be seen whether firing Powell would be deemed legal if it did happen.

But the broader point when it comes to White House-Fed relations (and what it could mean for the market) is that signs point to lower interest rates eventually...

Seeking "low-interest people"...