Chiefs of global central banks: Express backing for Fed’s Powell
Global Central Bank Leaders Express Support for Fed Chair Powell
On Tuesday, during the European trading hours, leaders from several of the world's most influential central banks released a unified statement backing Federal Reserve Chair Jerome Powell. This show of support followed threats from the Trump administration, which suggested possible criminal charges against Powell.
Joint Statement from ECB, BoE, and Other Major Central Banks
We fully support the Federal Reserve System and its Chair, Jerome H. Powell.
Maintaining the independence of central banks is essential for ensuring stable prices, financial security, and economic well-being for the people we serve.
The US government's investigation, officially concerning renovations at the Fed's headquarters, has been described by Powell as merely an excuse to exert presidential control over interest rate decisions.
Impact on Financial Markets
This development appears to have provided a modest boost to the US Dollar (USD). At the time of reporting, the US Dollar Index (DXY) has edged up slightly, hovering around 98.95.
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