President Donald Trump on Wednesday called on a top policymaker at the Federal Reserve to resign, after one of his allies alleged that she committed mortgage fraud.

The Fed made a "huge mistake" not raising rates during the pandemic. Now it risks another blunder, top economist Mohamed El-Erian says.

Since his return to office, Trump has vocally pressured Powell to lower rates, citing stable inflation and strong jobs numbers.

Wall Street continues to drift Wednesday while news of a leadership change at Target took some of the spotlight away from the latest batch of corporate earnings reports.