Heads of several central banks across the world expressed their support for Fed Chair Jerome Powell in his fight against the Trump administration that is threatening him with criminal charges, in an assault on central bank independence. "We stand in full solidarity with the Federal Reserve System and its Chair Jerome H. Powell," a group of central bank chief including the European Central Bank President Christine Lagarde and Bank of England Governor Andrew Bailey said in a joint statement on Tuesday.
"The independence of central banks is a cornerstone of price, financial and economic stability in the interest of the citizens that we serve," the central bankers said. "It is therefore critical to preserve that independence, with full respect for the rule of law and democratic accountability."
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Political News
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.