Global central banks rally behind Powell in the rate-cut showdown
TL;DR Summary
Leaders of major central banks reportedly sent a private memo to their governments expressing solidarity with Fed Chair Jerome Powell amid political pressure over how quickly to cut interest rates, signaling unity among global monetary authorities and cautioning against political retaliation that could complicate coordinated policy and impact the world economy.
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- The Fed chair race is becoming a proxy war for central bank independence Politico
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