Powell secures support from the U.S. Congress, many lawmakers wary of excessive presidential power

Wallstreetcn
2025.05.08 17:57

Under Trump's repeated attacks, Federal Reserve Chairman Jerome Powell needs to gain as much support from allies as possible. In Congress, he is not alone; many lawmakers, including some Republicans, have expressed no intention of ousting the central bank leader. Republican lawmakers have largely supported all major economic policies proposed during Trump's second term, and although some have slight criticisms of Powell's past performance, many lawmakers, including these critics, still hold a positive view of his overall work and support the principle of central bank independence