Fed’s Powell Stresses Central Bank Independence, Defers Climate Policymaking

Federal Reserve Chair Jerome Powell departs after facing reporters at a press conference following a two-day meeting of the Federal Open Market Committee in Washington on June 15, 2022. Elizabeth Frantz/Reuters

Federal Reserve Chair Jerome Powell emphasized the need for central bank independence while the institution grapples with elevated inflation.

During a Jan. 10 speech at Sweden’s Riksbank, the head of the U.S. central bank said resuscitating price stability requires employing difficult measures that may not be politically popular.