#TrumpVsPowell U.S. Senator Elizabeth Warren warns that if President Donald Trump ultimately decides to fire Federal Reserve Chairman Jerome Powell, it could undermine investor confidence in the integrity of U.S. capital markets and trigger a financial crisis.

In an appearance on CNBC, the Massachusetts senator stated that the president does not have the legal authority to remove Powell from his position. Moreover, removing Powell would undermine the financial infrastructure of the U.S., Warren added:

"If Chairman Powell can be fired by the President of the United States, the markets will collapse. The infrastructure that keeps this stock market strong, and therefore, a large part of our economy strong, and a large part of the global economy strong, is the idea that large parts operate independently of politics."

"If interest rates in the U.S. are subject to the whims of a president who just wants to wave his magic wand, that does not distinguish us from any other dictatorship," Warren continued.

Federal Reserve, Senate, U.S. Government, United States, Donald Trump