World central financial institution chiefs declare assist for US Fed chair | EUROtoday

Central banks the world over have joined collectively to declare that they stand in “full solidarity” with the Federal Reserve’s chair after the US launched a felony investigation into Jerome Powell.

The heads of the Bank of England, the European Central Bank and the Bank of Canada are amongst 11 senior bankers who’ve signed an announcement highlighting the significance of independence in setting rates of interest.

“Chair Powell has served with integrity, focused on his mandate and an unwavering commitment to the public interest,” they stated.

The Department of Justice is conducting the probe. President Donald Trump has stated he didn’t “know anything” concerning the investigation.

The investigation comes after a 12 months of relentless assaults on Powell by Trump.

As properly as criticising Powell’s choices on rates of interest, Trump has launched private assaults, calling the Fed chair a “major loser” and a “numbskull”.

Commenting on Powell, the worldwide central bankers stated of their joint assertion: “To us, he is a respected colleague who is held in the highest regard by all who have worked with him.”