FRANKFURT, Jan 13 (Reuters) - The chiefs of many of the world's major central banks issued a joint statement in support of Federal Reserve chair Jerome Powell on Tuesday after the Trump administration
Central Bank Leaders Rally Behind Fed Chair Powell Amid Trump Threats
Central Banks Unite in Support of Powell
FRANKFURT, Jan 13 (Reuters) - The chiefs of many of the world's major central banks issued a joint statement in support of Federal Reserve chair Jerome Powell on Tuesday after the Trump administration threatened him with a criminal indictment.
Statement of Solidarity
"We stand in full solidarity with the Federal Reserve System and its Chair Jerome H. Powell," the heads of the European Central Bank, the Bank of England and nine other institutions said.
Importance of Central Bank Independence
"The independence of central banks is a cornerstone of price, financial and economic stability in the interest of the citizens that we serve," they added.
Context of the U.S. Probe
The U.S. administration's criminal probe is formally about the renovation of the Fed's headquarters but Powell called it a "pretext" to win presidential influence over interest rates.
(Reporting by Francesco Canepa; Editing by Andrew Heavens)
