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On Tuesday, global central bank leaders issued a joint statement supporting Federal Reserve Chair Jerome Powell, who faces a criminal investigation from the Department of Justice regarding perjury allegations about his Senate testimony on the Fed’s renovation project. Powell claims the probe is a political pretext to pressure the Fed into lowering interest rates, a move President Trump has publicly advocated. While Trump denies direct involvement, he has criticized Powell and the $2.5 billion renovation project. The international bankers affirmed their solidarity with Powell, emphasizing the crucial need to protect the central bank’s independence from political influence.
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