World central bank chiefs declare support for US Fed chair

Central banks around the world have come together to declare their “full solidarity” with the Fed chief after the US launched a criminal investigation into Jerome Powell.

The governors of the Bank of England, the European Central Bank and the Bank of Canada are among 11 senior bankers who have signed a statement highlighting the importance of independence in setting interest rates.

“Chairman Powell has served with integrity, focus on his mission, and unwavering commitment to the public interest,” they said.

The Ministry of Justice is conducting the investigation. President Donald Trump said he “knew nothing” about the investigation.

The investigation comes after a year of Trump’s relentless attacks on Powell.

In addition to criticizing Powell’s decisions on interest rates, Trump also launched personal attacks, calling the Fed chairman a “big loser” and an “idiot.”

Global central bankers commented on Powell in their joint statement: “To us, he is a respected colleague who is held in the highest regard by everyone who works with him.”