WASHINGTON—President Trump said he is not planning to fire Federal Reserve Chairman Jerome Powell and he signaled that tariffs on China could be lowered, prompting relief from investors who had been spooked by the White House’s aggressive moves in recent weeks.

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.