Global central banks offer ‘full solidarity’ to US Fed’s Powell amid Trump threats
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Global central banks, including the Bank of England and the European Central Bank, have united in a statement supporting US Federal Reserve chair Jerome Powell against threats to his independence from the Trump administration. They emphasized that the autonomy of central banks is essential for maintaining price and economic stability. This collective stance highlights the importance of democratic accountability and the rule of law in financial governance.
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The independence of central banks has been a contentious issue, particularly in the context of populist political movements that challenge established norms. The threats from Trump’s administration to Powell's leadership reflect a growing trend where political figures seek to exert influence over monetary policy, raising concerns among economists and financial experts about the potential implications for global economic stability.
This article reflects the views of the authors and does not necessarily represent the views of the newsroom.
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