The president said he has “no intention” of ousting Jerome H. Powell, the Fed chair, but the administration’s willingness to challenge norms regarding the central bank’s political independence is causing concern.

President Donald Trump said he had “no intention” of firing Federal Reserve Chair Jerome Powell on Tuesday.

Trump’s softer tone on Powell came after he lashed out at the Fed chair, writing on social media last week, “Powell’s termination cannot come fast enough!” But on Tuesday,