Jerome Powell Defends Central Bank Independence at JFK Library Award Ceremony
Former Federal Reserve Chair Jerome Powell spoke at the John F. Kennedy Presidential Library in Boston on Sunday, May 31, 2026. He accepted the Profile in Courage Award and argued that political pressure on the central bank, courts, and universities would damage their credibility.
Former Federal Reserve Chair Jerome Powell defended the independence of the central bank and other institutions during a ceremony at the John F. Kennedy Presidential Library in Boston on Sunday, May 31, 2026. Powell received the Profile in Courage Award for his efforts to maintain the Federal Reserve’s independence.
He warned that if one administration removed officials over policy disagreements, future officials could follow the same approach. Such actions, he said, would ultimately undermine the credibility the central bank has built over decades.
Powell stepped down when his term ended in May 2026. The award ceremony also honored other recipients, including Natalie Ehret, Zena Stenvik, Carolina Ortiz, and Imam Yusuf Abdulle.
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