Economics

Powell Just One Global Central Banker Under Political Pressure

President Trump repeatedly criticizes Federal Reserve policy
Turkey, India, U.K. among others lobbied by politicians

The Marriner S. Eccles Federal Reserve building stands in Washington, D.C., U.S., on Monday, April 8, 2019. The Federal Reserve Board today is considering new rules governing the oversight of foreign banks. Chairman Jerome Powell said the Fed wants foreign lenders treated similarly to U.S. banks.Photographer: Bloomberg/Bloomberg

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By Cagan Koc, Nacha Cattan, and Alister Bull

May 23, 2019 at 4:01 AM UTC

This article is for subscribers only.

Federal Reserve Chairman Jerome Powell is not alone among central bankers in feeling political heat.

The independence that monetary policy makers have traditionally enjoyed from politicians is under threat worldwide as much as it is in the U.S., where Powell repeatedly runs into tweeted attacks from President Donald Trump.