Jerome Powell, the former Chair of the Federal Reserve, has expressed concern over the potential risks associated with political interference in the central bank's activities.
Powell, now a Fed governor, voiced these concerns while receiving a political courage award at an event in Boston.
He didn't single out any specific administration or air any particular grievances, but stressed the significance of preserving the central bank's independence, reported the Wall Street Journal on Sunday.
"If any administration finds a way to remove Fed officials over policy differences, then future administrations will do so as well," Powell warned.
He underscored that the credibility of the Fed, built over decades, was a "priceless asset" that he and his colleagues had a duty to safeguard.
