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https://www.theguardian.com/business/2026/jan/13/central-banks-us-fed-powell-trump-bank-of-england-ecb>
"Global central banks have issued an extraordinary joint statement offering
“full solidarity” to the US Federal Reserve chair, Jerome Powell, in the face
of the latest threat to his independence from Donald Trump’s White House.
“The independence of central banks is a cornerstone of price, financial and
economic stability in the interest of the citizens that we serve. It is
therefore critical to preserve that independence, with full respect for the
rule of law and democratic accountability,” the statement said.
It was signed by 10 central bank governors including the Bank of England
governor, Andrew Bailey, and the chair of the European Central Bank, Christine
Lagarde. It was coordinated by the Basel-based Bank for International
Settlements, which added its chair and general manager to the signatories.
Other signatories to the unprecedented statement include the central bank
governors of Australia, Sweden, Denmark, Switzerland, Brazil, South Korea,
Norway and Canada.
They pay testament to Powell’s “integrity” and “unwavering commitment to the
public interest”, calling him a “respected colleague who is held in the highest
regard by all who have worked with him”.
The boss of JP Morgan, the largest US bank, also warned against attacks on
Powell, amid fears it would undermine central bank independence and ultimately
push up borrowing costs.
Jamie Dimon told reporters on Tuesday that he had “enormous respect” for the
Fed chair, adding that “everyone we know believes in Fed independence. And
anything [that] chips away at that is probably not a great idea, and in my
view, will have the reverse consequences. It’ll raise inflation expectations
and probably increase [interest] rates over time”."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
