There is now a “clear possibility” that U.S. Federal Reserve Chair Janet Yellen will resign if Republican nominee Donald Trump wins the presidency in November, according to a Capital Economics report published just one day after Tuesday night’s presidential debate.

In what was his first official face-off with Democratic nominee Hillary Clinton, Trump voiced his criticisms of Yellen and the Fed.

“We are in a big, fat, ugly bubble,” Trump said. “And we better be awfully careful. And we have a Fed that's doing political things. This Janet Yellen of the Fed. The Fed is doing political – by keeping the interest rates at this level.”

Capital Economics’ Chief U.S. Economist Paul Ashworth wrote in the report that Yellen would resign “fairly quickly as a matter of principle” based on Trump’s claims.

“It doesn’t even matter if Trump himself believes them,” he argued. “If those claims are made publically to a viewing audience of up to 100 million Americans, and a majority of those Americans then go on to vote for Trump in November’s election, then what choice does Yellen have?”

In an announcement following the Federal Open Market Committee’s last meeting earlier this month, Yellen denied that politics was a consideration in any of the Fed’s monetary decisions.

Ashworth said that Yellen could resign immediately following the election or before the next FOMC meeting in mid-December. Her term expires in early 2018.