If President Donald Trump were to fire Federal Reserve Chair Jerome Powell, it could have unintended and severe consequences that reverberate throughout the US economy and global markets.

If President Donald Trump takes the unprecedented step of trying to fire Fed Chairman Jerome Powell, the effort would roil markets and likely be met with pushback in the courts. Trump and the Trump administration have increasingly turned their fire on Powell and his leadership of the central bank.

Amid a fresh set of attacks on Fed Chair Jerome Powell came reports that President Donald Trump might fire the central banker. Increasingly, Trump is frustrated with Powell for not lowering interest rates already.

There could be a revolt in global markets, including a possible collapse in the dollar and US bonds, if President Donald Trump were to take the unprecedented step of removing Federal Reserve Chair Powell from the helm of the central bank,