Global Bankers Support Fed Chair as Independence Comes Under Pressure

Global bankers support the US central bank chief during a tense political moment. Leading monetary officials issued a rare joint statement backing the current leadership. As a result, the message focused on trust, stability, and long term economic health.
The signatories included senior figures from Europe, the UK, and Canada. In addition, they stressed shared values rather than national interests. Their remarks highlighted cooperation during uncertain times.

Investigation raises serious concerns

The US Justice Department has opened a criminal probe linked to past congressional testimony. However, the president said he had no prior knowledge of the move. The inquiry relates to comments about renovation costs at central bank buildings.
Over the past year, political criticism has grown louder. For example, public attacks targeted interest rate decisions and personal conduct. These remarks increased pressure on the institution’s leadership.

Why independence matters

Central bank leaders warned that political influence could distort economic decisions. Therefore, they defended evidence based policy making. In their view, independence protects citizens from instability.
The joint message praised the current chair’s professionalism and public service. Moreover, it described him as a trusted colleague among peers. Such language showed rare unity across borders.
On Sunday, the chair addressed the issue directly. He warned that intimidation could shape future rate decisions. As a result, markets and investors paid close attention.

Divisions at home and abroad

Interest rates have already fallen three times since September. They now sit near 3.6 percent. However, policymakers remain divided on further cuts.
Some officials fear inflation could rise again. Consumer prices increased 2.7 percent over the year to December. That figure still exceeds the stated target.
Several lawmakers from the president’s party voiced concern. One senator promised to block future nominations until clarity emerges. Another called the investigation coercive, despite earlier criticism of policy choices.
Former leaders of the institution also expressed alarm. They described the probe as chilling for investor confidence. In addition, they urged respect for established norms.
The current chair will step down in May. A successor announcement is expected soon. Until then, global bankers support efforts to shield monetary policy from politics.