Powell warns politicized Fed would lose credibility (opens in new tab)

Former Federal Reserve Chair Jerome Powell used a May 31 appearance at the John F. Kennedy Presidential Library in Boston to defend the U.S. central bank’s independence after his chair term ended earlier in May. Accepting the 2026 John F. Kennedy Profile in Courage Award, Powell called the Fed’s independence “a priceless asset” and said public trust would erode if a president could remove Fed officials over policy disagreements. Powell spoke after President Trump selected Kevin Warsh to succe...