Jerome Powell warns politicized Fed would lose public trust
Former Federal Reserve Chair Jerome Powell stated that a politicized central bank would lose the public's trust, describing the Fed's credibility as a "priceless asset" built over decades that officials must safeguard. The warning comes amid ongoing debates about the Fed's independence and political pressures.
Key facts
- Jerome Powell is the former Federal Reserve Chair.
- Powell warned that a politicized Fed would lose public trust.
- He described the Fed's credibility as a 'priceless asset'.
- The credibility was built over many decades.
- Officials have a duty to safeguard this credibility.
- The statement was made in the context of debates about Fed independence.
Entities
Institutions
- Federal Reserve
Sources
- Quartz —