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Top central bankers express 'full solidarity' with Fed Chair Powell in clash with Trump
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Top central bankers express 'full solidarity' with Fed Chair Powell in clash with Trump

  • By DAVID McHUGH AP Business Writer

Central bankers from around the world have expressed full support for U.S. Federal Reserve Chair Jerome Powell. This comes after President Donald Trump escalated his confrontation with the Fed by threatening criminal charges. The central bankers, including European Central Bank President Christine Lagarde, emphasized the importance of central bank independence for economic stability. The dispute ostensibly centers on Powell's congressional testimony in June about renovation costs, but Trump has criticized Powell for not cutting rates faster. Economists warn that a politicized Fed could harm its credibility.