Outgoing US Federal Reserve Chair Jerome Powell has strongly defended the independence of central banks, saying monetary policy decisions should be guided by economic data rather than political pressure.
His remarks come amid repeated criticism from US President Donald Trump over interest rate decisions. Powell said an independent Federal Reserve is essential for controlling inflation, maintaining financial stability and preserving public trust.
He warned that political interference could undermine the credibility of central banks and weaken market confidence. Powell’s comments are seen as a final appeal to protect the Fed’s autonomy as he prepares to leave office.