Lagarde: Powell is doing his utmost to serve the American people

European Central Bank President Christine Lagarde expressed support for U.S. President Jerome Powell, stating that Powell is doing everything he can to fulfill his duties as Federal Reserve Chair. She said at an event hosted by The Washington Post: "The talent and capability of the Federal Reserve Chair give me peace of mind. I know he is doing his utmost and adhering to discipline in fulfilling his mission." Lagarde stated, "I have great respect for Chair Powell, and I know he is doing everything he can to serve the American people and maintain financial stability, which is closely related to price stability." "If you look at the academic literature on this topic, you will find that there is a lot of such literature around the world. Whenever there is political interference, whenever a central bank governor or president loses independence, the result is a slowdown in economic growth and rising inflation," Lagarde said. "This is not what anyone wants, and it certainly does not align with our mission."