Global Support Rallies for Fed Chair Amidst Controversy

Central bank officials are crafting a statement in support of Fed Chair Jerome Powell following a criminal investigation initiated by the Trump administration. The move, criticized as seeking presidential influence over interest rates, received backlash from former Fed chiefs and some Republicans.

Global central bank officials are reportedly preparing a statement to show their support for Federal Reserve Chair Jerome Powell. This development comes after the Trump administration launched a criminal investigation against him. The report came from Bloomberg News, citing an informed source.

The administration's decision has faced widespread condemnation, including from former Federal Reserve leaders and key Republican Party members. This backlash followed Powell's strong public response, labeling the investigation a 'pretext' by the administration to exert presidential influence over interest rates.

Notably, Reuters has not yet independently verified this report.

(With inputs from agencies.)