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.

President Trump asked Republican lawmakers this week whether he should fire Federal Reserve Chair Jerome Powell, whom he appointed to the position in 2017. The move followed months of criticism by Trump of Powell,

Donald Trump will be hit with a $60bn (£44bn) bill if he follows through on his threats to sack Federal Reserve chairman Jerome Powell, analysts have warned.

Trump and the Trump administration have increasingly turned their fire on Powell and his leadership of the central bank.

Boaters and campers at Lake Powell will soon see an increase in firefighting aircraft in the area. The Glen Canyon National Recreation Area announced on Thursday that fire suppression aircraft will be drawing water from Lake Powell between buoys 43 and 49.

A top White House budget official said President Trump is "troubled" by Federal Reserve chair Jerome Powell's management, as Mr. Trump pressures him over interest rates.

Warren added the next Fed chair will face a tough task proving they’re committed to central bank autonomy, as concerns grow that Trump may nominate someone more loyal to him than to economic principles.