The Dow, S&P 500 and Nasdaq Composite are on pace for a second day of gains after President Trump said he won’t fire Federal Reserve Chairman Jerome Powell after all, but he still pushed him to cut interest rates now.

President Donald Trump had criticized Fed Chairman Jerome Powell as 'a major loser,' but he has 'no intention of firing him.'

President Donald Trump said on Tuesday he has no plans to fire Federal Reserve Chair Jerome Powell, but said he wants interest rates to be lower, remarks that could defuse tensions over the central bank chief's future that have rattled investors.