President Trump reportedly plans to sign an executive order that allows private equity, venture capital and hedge funds in retirement accounts, reversing a Biden administration policy.

Alternative-asset managers have lobbied hard for permission to pitch their funds to everyday investors for their retirement accounts.

Sen. John Kennedy (R-LA) is leading the charge to warn President Donald Trump that his threats against Federal Reserve Chairman Jerome Powell, which have brewed for weeks, would be a disaster, CNN's Phil Mattingly reported on Wednesday.

President Donald Trump sent the U.S. stock market on a jagged round trip Wednesday after saying he had "talked about the concept of firing" the head of the Federal Reserve. Such a move could help Wall Street get the lower interest rates it loves,

President Trump said Wednesday it's "highly unlikely" that he would fire Jerome Powell, but he continued to air his frustrations with the Federal Reserve chair. CBS News MoneyWatch correspondent Kelly O'Grady has more.