Two of President Donald Trump's contenders to succeed Federal Reserve Chair Jerome Powell are increasing their alignment with the president in hopes to secure the nomination.

Markets will "crash" if President Donald Trump fires Federal Reserve Chairman Jerome Powell, Sen. Elizabeth Warren, D-Mass., warned. The Senate Banking Committee's ranking member contended that Trump's relentless attacks risk undermining the independence of the Fed.

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,

The president floated the idea of firing the Fed chief to lawmakers, then said such a move was "very unlikely."