Every living former head of the Federal Reserve condemned an “unprecedented” attempt by the Trump administration to weaken the US central bank’s independence, after the Department of Justice opened a criminal investigation into its chair, Jerome Powell.
Ex-Fed chairs Alan Greenspan, Ben Bernanke and Janet Yellen warned similar prosecutorial attacks in other countries had led to “highly negative consequences” for the cost of living – and argued they had “no place” in the US.
