Powell: I worry political attacks are battering the Federal Reserve

• Powell worries that 'legal attacks' on the Fed are battering the institution and risking its ability to conduct monetary policy without political factors.
• He differentiates these legal actions from verbal criticism, stating that the former are unprecedented in the Fed's 113-year history.
• Powell asserts that central bank independence is a foundational element of a successful economy, crucial for public trust and global standing.

Federal Reserve Chair Jerome Powell expressed deep concern over 'legal attacks' on the Fed, emphasizing that these unprecedented actions threaten the institution's ability to conduct monetary policy free from political influence. He highlighted the critical importance of central bank independence for economic stability and global competitiveness.