Powell praises former Federal Reserve Chairman Volcker for his "courage to resist" political pressure

Golden Ten Data, March 22 — According to foreign media reports, Federal Reserve Chairman Jerome Powell on Saturday praised former Federal Reserve Chairman Paul Volcker for his "courage to resist" political pressure during the fight against inflation in the 1980s. This statement is particularly significant, as Powell has also been striving to defend the Fed's independence while the Trump administration attempted to force him to lower interest rates. In a recorded video accepting the Paul A. Volcker Public Integrity Award, Powell said: "His actions showed us that independence and integrity are inseparable—we need independence to do the right thing, and we also need integrity to wisely exercise that independence."