Yes, and the GPU too.
But don't worry, you don't have a no-brand, cheap PSU. You should be fine... and a good PSU would cost more than $50.
Please excuse my bad English.
Currently gaming on a PC with an i5-4670k@stock (for now), 16Gb RAM 1600 MHz and a GTX 1070
Steam / Live / NNID : jonxiquet Add me if you want, but I'm a single player gamer.