Central Banks Work on Statement in Solidarity With Fed’s Powell

Global central bank officials are working on a statement to show solidarity with Chairman Jerome Powell after the Trump administration dramatically escalated its pressure campaign toward the Federal Reserve, according to a person familiar with the matter.

The joint statement is expected to be issued under the Bank for International Settlements banner and will be open for all central banks to sign, said the person, who asked not to be identified. The statement could come as early as Tuesday as monetary chiefs take time to sort the language due to time-zone differences, the person said.