European Central Bank joins other central bank leaders in statement backing Federal Reserve Chair Jerome H. Powell and central bank independence

The European Central Bank published a joint statement expressing solidarity with the Federal Reserve System and its Chair Jerome H. Powell, underscoring that central bank independence is a cornerstone of price, financial and economic stability and should be preserved with full respect for the rule of law and democratic accountability. The statement also commends Powell’s integrity and mandate-focused service. The statement is issued by Christine Lagarde on behalf of the ECB Governing Council and is co-signed by the heads of the Bank of England, Sveriges Riksbank, Danmarks Nationalbank, Swiss National Bank, Norges Bank, Reserve Bank of Australia, Bank of Canada, Bank of Korea, Banco Central do Brasil, and the Chair of the Board of Directors and the General Manager of the Bank for International Settlements. It notes that additional central banks may be added to the list of signatories later.