At the European Central Bank president’s annual forum last month, Christine Lagarde took a moment to lavish praise upon a guest from outside Europe’s borders.
Jay Powell, she said, epitomised the “standard of a courageous central banker”, leading to a rousing ovation for the Federal Reserve chair, who sat at the top table with head bowed.
The tribute from his peers stood in stark contrast to the treatment Powell had received just hours before from the world’s most powerful man.
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