Central bankers from around the world have issued a joint statement of support for US Federal Reserve Chair Jerome Powell, as he faces a criminal probe on top of mounting pressure from US President Donald Trump to resign early.
It is very unusual for the world’s central bank governors to issue such a statement. But these are very unusual times.
The reason so many senior central bankers – from Australia, Brazil, Canada, Europe, New Zealand, South Africa, South Korea, the United Kingdom and other countries, as well as the central banks’ club the Bank for International Settlements – have spoken up is simple. US interest rate decisions have an impact around the world. They don’t want a dangerous precedent set.
