Tag

Independence

All articles tagged with #independence

politics16 hours ago

Powell Pushes Back: Fed Independence Tested by Trump

Fed Chair Jerome Powell finally pushes back against the Trump White House, alleging a DOJ probe is pressuring him on interest-rate decisions. A bipartisan defense of Fed independence followed from former Fed chairs and Treasury officials, while Sen. Tillis signaled he’ll oppose any Fed nominees until the legal matter is resolved. The episode coincides with growing public and corporate pushback to Trump’s tactics, including a tech-industry letter urging a break from immigration enforcement, as the midterms approach and Republicans reassess their stance toward the central bank. Powell’s move underscores that standing up to political pressure can reshape the dynamic between the Fed and the White House.

world16 hours ago

Global central banks back Powell as independence comes under scrutiny

World central bank chiefs, including the Bank of England, ECB and Bank of Canada, signed a joint statement of full solidarity with Federal Reserve Chair Jerome Powell, praising his integrity and the independence of monetary policy as the Justice Department investigates him over a renovation-related matter. Powell warned that political pressure could undermine the Fed’s ability to set policy, amid a 3.6% target rate after three cuts and inflation around 2.7%. Powell’s term ends in May, with a potential successor to be named amid Republican scrutiny, while former Fed chairs and a broad slate of international signatories voiced support for independence.

business1 day ago

Powell defends Fed independence as Trump presses for lower rates

Fed Chair Jerome Powell gave an unscheduled public statement amid a DoJ probe into his testimony on a Fed building project, arguing that monetary policy must be set independently of political pressure. The clash with President Trump over rates underscores broader concerns about political influence on the central bank and could influence US markets and global financial stability.

music2 days ago

Opera Goes Independent: WNO Splits from Kennedy Center for Survival

The Washington National Opera announced it would sever ties with the Kennedy Center, pursuing independence to safeguard its audience and the art form. The columnist frames the move as institutional courage and a prudent step for the company’s survival, arguing the split benefits both the company and its artistic mission, despite ongoing debate about the broader implications.

world9 days ago

Myanmar Releases Over 6,100 Prisoners on Independence Day

Myanmar's military government released over 6,100 prisoners and reduced sentences to mark the country's independence anniversary, but it remains unclear if political detainees like Aung San Suu Kyi were included. The move coincides with ongoing elections and widespread political unrest, with thousands of political prisoners still detained. The release is part of traditional holiday amnesties, but critics question its sincerity amid ongoing repression.