President Donald Trump just fired a top policymaker at the Federal Reserve, but it wasn’t Chair Jerome Powell. That itself shows the president has conceded there’s a limit to his attacks on the world’s most powerful central bank.

The president’s intention to fire Fed governor Lisa Cook could give him sway over the central bank’s rate-setting power.

Donald Trump has throughout his presidential career fought the Federal Reserve and its chair Jay Powell with public bluster and verbal threats to try to get his way on interest rates. But on Monday night the US president took his assault on the world’s most important central bank to the next level,

Powell delivered the guidance in a highly anticipated speech on Friday at the central bank's annual symposium in Jackson Hole, WY.

Morgan Stanley has joined a growing bloc of global brokerages forecasting a September interest rate cut by the U.S. Federal Reserve, citing Chair Jerome Powell's shift in tone toward labor market risks at the Jackson Hole symposium.

World shares were mixed on Monday after the head of the Federal Reserve hinted that cuts to interest rates may be on the way. European markets opened lower, with Germany's DAX down 0.2% at 24,305.67,