Former Fed Chiefs Unite in Call on Trump to End Powell Threats

Four former Federal Reserve chiefs made a joint plea for the central bank to be able to operate without political pressures or the threat of removal of its leaders, responding to President Donald Trump’s persistent attacks on current Chairman Jerome Powell.

“We are united in the conviction that the Fed and its chair must be permitted to act independently and in the best interests of the economy, free of short-term political pressures and, in particular, without the threat of removal or demotion of Fed leaders for political reasons,” Janet Yellen, Ben Bernanke, Alan Greenspan and Paul Volcker said in an op-ed in the Wall Street Journal.