World central banks rally behind Powell, stress Fed independence

Crypto experts say political pressure on the US Federal Reserve could drive volatility, but also shift flows toward Bitcoin and gold in the long run.

Global central bank leaders have rallied behind US Federal Reserve Chair Jerome Powell, warning that political pressure on the Fed risks undermining financial and economic stability worldwide.

In a joint statement released Tuesday, governors from 11 major central banks said they “stand in full solidarity with the Federal Reserve System and its Chair Jerome H. Powell,” stressing the importance of central bank independence.

The statement comes after US authorities opened a criminal investigation into Powell over a $2.5 billion renovation of the Fed’s headquarters, a move that has intensified tensions between the central bank and the Trump administration.

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