Highly respected figure has cast off restrained approach – and is determined to protect central bank from escalating attacks
There are often few surprises with Jerome Powell. At his handful of public appearances each month, the US Federal Reserve chair always sports the same softly stern expression. His voice, typically dispassionate and near-monotone, never wavers.
As one of the most powerful officials in the world, commanding a platform that has the ability to move global markets with a few words, Powell is often reserved in a way that fails to yield soundbites in this social media era: boring, even.
That changed on Sunday night. In a video statement released by the Fed, Powell looked like his usual self. Calm and composed, though without his usual black glasses frame, Powell announced the Trump administration had instigated a criminal investigation against him – and that he would not back down.
“I have served at the Federal Reserve under four administrations, Republicans and Democrats alike. In every case, I have carried out my duties without political fear or favor, focused solely on our mandate of price stability and maximum employment,” Powell said. “Public service sometimes requires standing firm in the face of threats.”
