The heads of the European Central Bank, the Bank of England, and nine other institutions stated: "We stand in full solidarity with the Federal Reserve and its chairman Jerome H. Powell." They added: "The independence of central banks is a cornerstone of price and financial-economic stability, serving the interests of those we serve." On Tuesday, the leaders of many of the world's major central banks issued a joint statement supporting the chairman of the U.S. Federal Reserve, Jerome Powell, after the Trump administration threatened to bring criminal charges against him. The official criminal investigation being conducted by the U.S. administration is formally related to the renewal of the Federal Reserve's lease, but Powell described it as a "pretext" to gain presidential influence.
