Jerome Powell: steely Fed chair standing firm in face of Trump's threats

Core Viewpoint - Jerome Powell, the chair of the US Federal Reserve, is facing a criminal investigation instigated by the Trump administration, which he has publicly stated he will not back down from [2][12][14] Group 1: Powell's Position and Response - Powell has emphasized his commitment to the Federal Reserve's independence, stating he has served under both Republican and Democratic administrations without political bias [3][6] - He has faced ongoing pressure from the Trump administration to lower interest rates, which he has resisted, highlighting the importance of maintaining the Fed's autonomy [10][12] - The criminal investigation is perceived by Powell as a pretext for political pressure, indicating a significant threat to the independence of the Federal Reserve [12][13][14] Group 2: Economic Context and Performance - Powell has been recognized for his management of the economy during challenging times, including the COVID-19 pandemic and rising inflation, achieving a "soft landing" by reducing inflation from a peak of 9.1% in summer 2022 to 2.3% by April [8] - The unemployment rate has remained steady at 4.2%, showcasing Powell's ability to navigate economic challenges while maintaining employment levels [8] - The Federal Reserve was established to operate independently from political influence, a principle Powell has defended throughout his tenure [6][7]