Ex-Fed chairs condemn Trump’s bid to weaken central bank’s independence

Statement signed by 13 former senior officials condemns unprecedented' assault on Fed's independence

Every living former head of the Federal Reserve condemned an unprecedented" attempt by the Trump administration to weaken the US central bank's independence, after the Department of Justice opened a criminal investigation into its chair, Jerome Powell.

Ex-Fed chairs Alan Greenspan, Ben Bernanke and Janet Yellen warned similar prosecutorial attacks in other countries had led to highly negative consequences" for the cost of living - and argued they had no place" in the US.