Chicago – January 13, 2026
Global central bank chiefs have issued an unprecedented declaration of “full solidarity” with US Federal Reserve Chair Jerome Powell, underscoring mounting concern over political interference in monetary policy. The coordinated move follows a US criminal investigation into Powell, launched after President Donald Trump escalated his confrontation with the Fed over interest rate policy and Powell’s congressional testimony.
Eleven heads of major central banks, including the European Central Bank’s Christine Lagarde and Bank of England Governor Andrew Bailey, signed the statement backing Powell. The signatories stressed that Powell has served with integrity, focused on his mandate and the public interest, and is held in high regard by colleagues worldwide.
The central bankers warned that the independence of monetary authorities is a cornerstone of price, financial and economic stability and must be preserved. Powell, who broke his silence on Sunday, argued that the probe and criticism are “pretexts” for an attempt to bring US interest rate decisions under political control.
