$ETH U.S. Senator Elizabeth Warren warns that if President Donald Trump ultimately decides to fire Federal Reserve Chair Jerome Powell, it could undermine investor confidence in the integrity of U.S. capital markets and trigger a financial crisis. In a recent appearance on CNBC, the Massachusetts senator stated that the president does not have the legal authority to remove Powell from his position. Furthermore, removing Powell would weaken the financial infrastructure of the U.S., Warren added: "If Chair Powell can be fired by the President of the United States, the markets will collapse. The infrastructure that keeps these stock markets strong, and thus, a large part of our economy strong, and a large part of the world economy strong, is the idea that large parts operate independently of politics." "If interest rates in the U.S. are dictated by a president who only wants to wave his magic wand, this does not distinguish us from any other dictatorship," Warren continued. Federal Reserve, Senate, U.S. Government, United States, Donald Trump