Episode Details

Former Fed Chair Jerome Powell passionately defended the independence of critical institutions like universities, courts, and the Fed itself, calling it a “priceless asset” vital to democracy and public trust. Speaking at an award ceremony honoring his stewardship, Powell warned that political interference in monetary policy could undo decades of credibility, echoing his past clashes with the previous administration. Though he stepped down as chair in May, he retained his seat on the Fed’s board — a move that blocked another appointment by the current administration. Powell also noted that other advanced economies shield their central banks from politics, and while acknowledging the Fed’s imperfections — including recent inflation spikes — he emphasized accountability and course corrections. He was honored alongside courageous community members who stood up during immigration enforcement actions.

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