Jay Powell has vowed to continue as a Federal Reserve governor as he used his last meeting as the central bank’s chair to issue his most strident rebuke of Donald Trump’s attacks on the institution.
The Fed chief warned in a press conference on Wednesday that the central bank is being “battered” by the Trump administration’s repeated “legal assaults” on the world’s most important central bank. He said there were “widespread concerns” among officials that the blitz would continue.
“I think it’s at risk,” Powell said when asked about whether Fed independence is as strong now as when he became chair in 2018, adding that the central bank was having to “resort to the courts” in an attempt to push back against Trump’s government.
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