Jerome Powell, former chairman of the U.S. Federal Reserve (Fed), pointed out, "If the administration were able to dismiss Fed officials due to policy disagreements, the existence of the central bank could be threatened." According to the Wall Street Journal, he said at a Boston event, "If the administration finds a way to dismiss Fed officials based on policy differences, subsequent administrations will do the same. The Fed's credibility, built over decades, is a very valuable asset, and we have a duty to protect it." This statement is Powell's first public remark since stepping down as Fed chairman a week ago.
