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Top central bankers express 'full solidarity' with Fed Chair Powell in clash with Trump
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....op central bankers express 'full solidarity' with Fed Chair Powell in clash with Trump<BR>PTI News<BR>Dated:- 13-1-2026<BR>PTI<BR>Frankfurt (Germany), Jan 13 (AP) Central bankers from around the world said Tuesday they “stand in full solidarity” with US Federal Reserve Chair Jerome Powell, after President Donald Trump dramatically escalated his confrontation with the Fed with the Justice Depar....
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....tment investigating and threatening criminal charges. Powell “has served with integrity, focused on his mandate and an unwavering commitment to the public interest," read the statement signed by nine national central bank heads including European Central Bank President Christine Lagarde and Bank of England Governor Andrew Bailey. They added that “the independence of central banks is a corn....
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....erstone of price, financial and economic stability in the interest of the citizens that we serve. It is therefore critical to preserve that independence, with full respect for the rule of law and democratic accountability." The dispute is ostensibly about Powell's testimony to Congress in June over the cost of a massive renovation of Fed buildings. But in a statement Sunday, Powell, abandoning h....
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....is previous attempt to ignore Trump's relentless criticism, called the administration's threat of criminal charges “pretexts'' in the president's campaign to seize control of US interest rate policy from the Fed's technocrats. Trump has repeatedly criticised Powell and the Fed for not moving faster to cut rates. Economists warn that a politicised Fed that caves in to the president's demands wi....
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....ll damage its credibility as an inflation fighter and likely lead investors to demand higher rates before investing in US Treasurys. Other signers of the statement carried on the ECB's website were Erik Thedeen, governor of Sweden's central bank; Christian Kettel Thomsen, chair of Denmark's central bank; Swiss National Bank Chair Martin Schlegel; Michele Bullock, governor of the Reserve Bank of ....
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....Australia; Tiff Macklem, governor of the Bank of Canada; Bank of Korea Governor Chang Yong Rhee; Gabriel Galipolo, governor of the Banco Central do Brasil. Also attaching their names were Francois Villeroy de Galhau, board chair of the Bank for International Settlements, and Pablo Hernandez de Cos, BIS general manager. The BIS is an international organisation of central banks based in Basel, Swi....
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....tzerland. One prominent central bank not included in the statement was the Bank of Japan. The statement said that more signatures could be added later. (AP) GRS GRS<BR> News - Press release - PIB....