Trump says it is highly unlikely he will fire US Fed chair

President Donald Trump has said it is "highly unlikley" he will fire the chair of the US Federal Reserve, hours after asking lawmakers whether he should sack Jerome Powell.

Stock markets and the dollar fell following reports Trump had broached the idea with Republicans on Tuesday.

Trump has repeatedly called on Powell to lower US interest rates in a series of highly critical outbursts.

That continued on Wednesday when Trump said Powell - who the president appointed during his first term - was "doing a lousy job" but while he said he doesn't rule anything out, "It's highly unlikely unless he has to leave for fraud".

The Federal Reserve is independent of the White House.

Powell has denied that the White House has the authority to fire him, especially over a policy disagreement, but White House officials said he can be removed for cause.