Macklem among central bankers from around the world backing U.S. Fed chair
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Digital Subscription
One year of digital access for only $205*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*First annual payment billed as $205.00 + GST for one year. This annual subscription will automatically renew at $233.00 + GST every 52 weeks (10% off the regular annual price of $259.35). Offer available to new and qualified returning subscribers only. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Your next Brandon Sun subscription payment will increase by $1.00 and you will be charged $17.95 plus GST for four weeks. After four weeks, your payment will increase to $24.95 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
Hey there, time traveller!
This article was published 13/01/2026 (260 days ago), so information in it may no longer be current.
OTTAWA – Bank of Canada governor Tiff Macklem is among a group of central bankers from around the world backing U.S. Federal Reserve chair Jerome Powell, who is facing a criminal investigation from President Donald Trump’s justice department.
A statement by the group, which includes European Central Bank president Christine Lagarde and Bank of England governor Andrew Bailey, says they stand in “full solidarity” with Powell who they call a respected colleague.
It says the independence of central banks is a cornerstone of price, financial and economic stability in the interest of the citizens that they serve.
Trump has repeatedly criticized Powell for not cutting interest rates faster.
Powell said Sunday the U.S. Department of Justice had subpoenaed the Fed late last week in connection with testimony he gave to the Senate in June about a renovation project to Federal Reserve buildings in Washington, D.C.
He alleged the threatened criminal indictment was a response to independent monetary policymakers in the U.S. refusing to lower interest rates per Trump’s wishes.
This report by The Canadian Press was first published Jan. 13, 2026.