Global Central Bank Leaders Rally Behind Fed Chair Jerome Powell Amid Investigation

Tue Jan 13 2026 17:43:41 GMT+0200 (Eastern European Standard Time)

In a united front, central bank leaders from around the world express their unwavering support for Federal Reserve Chair Jerome Powell following the announcement of a criminal investigation against him by the U.S. Department of Justice.

The heads of major central banks, including the Bank of England, the European Central Bank, and the Bank of Canada, have publicly voiced their support for Jerome Powell, the chair of the U.S. Federal Reserve, amid an investigation by the Department of Justice. They praised his integrity and commitment to public service, emphasizing the importance of maintaining independence in monetary policy.

Central banks across the world have joined together to declare that they stand in full solidarity with the Federal Reserve's chair after the U.S. launched a criminal investigation into Jerome Powell.

The heads of the Bank of England, the European Central Bank, and the Bank of Canada are among 11 senior bankers who have signed a statement highlighting the importance of independence in setting interest rates.

Chair Powell has served with integrity, focused on his mandate, and has an unwavering commitment to the public interest, they said.

The Department of Justice is conducting the probe. President Donald Trump has stated he did not know anything about the investigation.

The investigation comes after a year of relentless attacks on Powell by Trump. Alongside his criticism of Powell's decisions on interest rates, Trump has also made personal attacks, calling the Fed chair a major loser and a numbskull.

Commenting on Powell, the global central bankers said in their joint statement: To us, he is a respected colleague who is held in the highest regard by all who have worked with him.