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Powell's Global Peers to Cheer for Fed in Rebuke to Trump

Powell's Global Peers to Cheer for Fed in Rebuke to Trump

Bloomberg16 hours ago
Central bankers gathering in Jackson Hole, Wyoming this week for the Federal Reserve's annual conference are prepared to go beyond swapping research papers and savoring mountain views — they're coming to defend Jerome Powell.
The Fed chair is facing relentless attacks from President Donald Trump for refusing to cut interest rates. Trump has also pledged to replace Powell next year when his term as chair expires with someone more compliant. The offensive has rattled policymakers from around the world, raising fears that central-bank independence — seen as essential to keeping inflation in check — could be undermined.
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