Global Central Bank Governors Issue Statement of "Full Solidarity" with Fed Chair Powell

As Jerome Powell, Chair of the United States Federal Reserve (Fed), faces the threat of criminal indictment, central bank governors from major countries around the world have come forward to publicly support Powell, emphasizing the importance of central bank independence.

On January 13 (local time), the heads of central banks from major economies including the European Union (EU), Canada, the United Kingdom, Australia, and South Korea issued a statement on the European Central Bank (ECB) website, declaring, "We express our full solidarity with Chair Powell of the Federal Reserve." They added, "Chair Powell has served with unwavering commitment to the public interest, faithfully fulfilling his duties with integrity."

They further stated, "Central bank independence is the cornerstone of price stability, financial stability, and economic stability," and emphasized, "It is important to uphold this independence while fully respecting the rule of law and democratic accountability."

This joint statement was signed by the governors of central banks from ten countries, including the European Central Bank, the United Kingdom, Canada, and Australia, as well as Rhee Changyong, Governor of the Bank of Korea.

On January 11 (local time), Chair Powell released a video in which he stated that he was under investigation and facing possible indictment from the Trump administration regarding the renovation of the Federal Reserve building. He characterized the investigation as an unprecedented threat by the administration to the independence of the Federal Reserve.