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A group of international central banks issued a joint statement backing Federal Reserve Chair Jerome Powell after he revealed that the U.S. Justice Department is criminally investigating him.
"We stand in full solidarity with the Federal Reserve System and its Chair Jerome H. Powell. The independence of central banks is a cornerstone of price, financial and economic stability in the interest of the citizens that we serve," the statement reads.
"It is therefore critical to preserve that independence, with full respect for the rule of law and democratic accountability. Chair Powell has served with integrity, judgement and an unwavering commitment to the public interest. To us, he is a respected colleague who is held in the highest regard by all who have worked with him," it adds.
