By David French (Reuters) -Wall Street benchmarks ended modestly higher on Wednesday, with the Nasdaq Composite posting its latest record finish, despite a chaotic half hour when news reports suggested U.

Donald Trump is again considering firing Federal Reserve Chairman Jerome Powell, potentially igniting a complex legal battle. Powell asserts his removal is unlawful and vows to resist. The dispute centers on the "for cause" clause for dismissing Fed board members,

Wall Street ended Wednesday on top as markets grinded out a win in the wake of the latest PPI data and news that President Trump indicated that he will fire Fed Chairman Jerome Powell.

Wall Street benchmarks closed modestly higher on Wednesday, with the Nasdaq Composite achieving its latest record finish, despite a chaotic half hour when news reports suggested U.S. President Donald Trump was set to fire Federal Reserve Chair Jerome Powell.

Markets got back to treading water this week, as inflation and tariff concerns have some analysts pushing the next interest rate cut to December.

This past April, when President Donald Trump started flirting with the notion of firing Fed Chair Jerome Powell, stocks and the dollar tumbled because investors worried that even talking about such a move crossed a red line.

The S&P 500 reverses earlier losses to close just shy of a record.