Listen to this articleUS Federal Reserve chief Jerome Powell has said a criminal investigation into Fed building renovation cost overruns is a “pretext” to intimidate him. (Photo: AFP)LONDON - The heads of major central banks have thrown their support behind the US Federal Reserve and its chairman Jerome Powell, saying in a joint statement on Tuesday that it was “critical to preserve” their independence. “We stand in full solidarity with the Federal Reserve System and its Chair Jerome H Powell,” said the statement signed by chiefs of the European Central Bank, the Bank of England and others. The US inquiry concerns a $2.5-billion renovation of the Fed headquarters in Washington, which Trump has repeatedly attacked Powell of mismanaging. In his video statement Sunday, Powell dismissed the renovation and testimony as “pretexts”.

Source: Bangkok Post January 14, 2026 00:14 UTC