Wall Street defends Powell! CEOs of major banks speak out: The independence of the Federal Reserve is the cornerstone of market confidence

Executives from major Wall Street firms emphasized the importance of Federal Reserve independence amid Trump's criticism of Powell. The CEOs of Bank of America, JPMorgan Chase, and Goldman Sachs unanimously agreed that the Fed's autonomy is the cornerstone of market confidence. Trump has repeatedly criticized Powell for failing to cut interest rates in a timely manner and has discussed potential successors. Analysts warn that if Trump were to dismiss Powell, it would trigger turmoil in financial markets and legal disputes. The executives reiterated that central bank independence is crucial for capital markets and U.S. competitiveness