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.

As the director of the Federal Housing Finance Agency, Bill Pulte oversees the system that helps keep the U.S. mortgage market liquid.

The president suggested he could attempt to remove the Fed chair for cause, arguing the central bank spent too much money on renovations of two historic office buildings.

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 Jerome Powell from the helm of the central bank,