Concerns over Trump's Fed Chair Pick; Central Bank Independence Emphasized

A dozen central bank leaders issued a joint statement expressing 'full solidarity' with the US Federal Reserve and its chair, Jerome Powell, stressing the importance of central bank independence amidst investor worries about Trump's pick.

Sat May 09 2026

Statement Supporting Central Bank Independence

In January, a dozen leaders of the world’s foremost monetary institutions issued an extraordinary joint statement declaring their "full solidarity" with the US Federal Reserve (Fed) and its embattled chair, Jerome Powell. This move was a break from the typical diplomatic restraint of central banks. They emphasized in the statement that 'the independence of central banks is a cornerstone of price, financial and economic stability in the interest of the citizens that we serve.'

Controversy Over Fed Chair Nomination

This action comes amid investor worries about former President Donald Trump’s Fed chair pick. The joint statement by central bank governors is seen as an effort to bolster the separation of monetary policy. It reflects an international consensus on the role of central banks and the stability of the financial system.

*Source: SCMP (2026-05-09)*

Tags: #US Fed #Jerome Powell #Central Bank Independence #Trump #Financial Stability