Economics

Powell Gets Bipartisan Senate Backing After Trump Renews Assault

Jerome Powell waits to begin a Senate Banking Committee hearing in Washington on Feb. 12. — Jerome Powell waits to begin a Senate Banking Committee hearing in Washington on Feb. 12.
Photographer: Andrew Harrer/Bloomberg

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By Max Reyes

February 12, 2020 at 9:00 PM UTC

This article is for subscribers only.

Republican and Democratic senators urged Jerome Powell to defend the independence of the Federal Reserve, a bipartisan show of support after President Donald Trump renewed his public assault on the U.S. central bank and its chairman.

“Stay independent. I think you’re doing a great job,” Louisiana Republican John Kennedy told Powell on Wednesday during testimony before the Senate Banking Committee. “Call them like you see them.”