Fed’s Powell Says Central Banks Can’t Take Independence for Granted

Mony
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An erosion of public trust in institutions could threaten the independence of central banks and requires greater transparency and accountability from policy makers following the 2008 financial crisis, Fed Chairman Jerome Powell said Friday.

Mr. Powell said low levels of trust in government institutions have created a “challenging moment” for central banking. “In this environment, central banks cannot take our measure of independence for granted,” he said Friday in Stockholm at a conference marking the 350th anniversary of…

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