July 17, 2025
Article from Yahoo Finance by David Hollerith
Article Synopsis
Top Wall Street leaders, including CEOs of JPMorgan, Bank of America, Citigroup, and Goldman Sachs, are speaking out in defense of Federal Reserve independence as political pressure on Fed Chair Jerome Powell intensifies.
They warn that undermining the Fed’s autonomy could destabilize financial markets, raise borrowing costs, and harm U.S. credibility. Concerns spiked after reports that Donald Trump, if elected, might fire Powell before his term ends in May 2026, prompting negative market reactions. Industry leaders stress that a stable, independent Fed is essential for both Wall Street and Main Street.
