Statement signed by 13 former senior officials condemns ‘unprecedented’ assault on Fed’s independence

• Trump’s attempts to influence Fed risk ‘70’s-style inflation and global backlash’

• Nils Pratley: US bond markets should be in revolt. Fed independence matters

Every living former head of the Federal Reserve condemned an “unprecedented” attempt by the Trump administration to weaken the US central bank’s independence, after the Department of Justice opened a criminal investigation into its chair, Jerome Powell.

Ex-Fed chairs Alan Greenspan, Ben Bernanke and Janet Yellen warned similar prosecutorial attacks in other countries had led to “highly negative consequences” for the cost of living – and argued they had “no place” in the US.

Statement signed by 13 former senior officials condemns ‘unprecedented’ assault on Fed’s independence

• Trump’s attempts to influence Fed risk ‘70’s-style inflation and global backlash’

• Nils Pratley: US bond markets should be in revolt. Fed independence matters

Every living former head of the Federal Reserve condemned an “unprecedented” attempt by the Trump administration to weaken the US central bank’s independence, after the Department of Justice opened a criminal investigation into its chair, Jerome Powell.

Ex-Fed chairs Alan Greenspan, Ben Bernanke and Janet Yellen warned similar prosecutorial attacks in other countries had led to “highly negative consequences” for the cost of living – and argued they had “no place” in the US.

Statement signed by 13 former senior officials condemns ‘unprecedented’ assault on Fed’s independence

• Trump’s attempts to influence Fed risk ‘70’s-style inflation and global backlash’

• Nils Pratley: US bond markets should be in revolt. Fed independence matters

Every living former head of the Federal Reserve condemned an “unprecedented” attempt by the Trump administration to weaken the US central bank’s independence, after the Department of Justice opened a criminal investigation into its chair, Jerome Powell.

Ex-Fed chairs Alan Greenspan, Ben Bernanke and Janet Yellen warned similar prosecutorial attacks in other countries had led to “highly negative consequences” for the cost of living – and argued they had “no place” in the US.