11 Major Central Banks Rally Behind Powell as Trump Escalates $2.5B Investigation

Global central bank leaders rallied behind the U.S. Federal Reserve Chair Jerome Powell this week, warning that political pressure on the Fed could unsettle markets worldwide. The response followed the Trump administration’s escalation of a criminal probe linked to a $2.5 billion renovation of the Fed’s Washington headquarters, renewing concerns over central bank independence. In a joint statement, officials from 11 major central banks voiced they “stand in full solidarity with Powell,” stressing that i ...