The former head of the Fed will receive an award for courage for resisting Trump’s pressure

The award will be presented to him in Boston by the Foundation that manages the presidential library of John F. Kennedy, the Democratic president assassinated in 1963 and the author of the book Profiles in Courage.

The foundation said Powell “defended the independence of the Federal Reserve, which is critical to the stability of the world economy, despite years of personal attacks and threats coming from the highest levels of government.”

At the award ceremony, Jerome Powell will deliver a speech, his first since handing over the presidency to Kevin Warsh.

It will also be his first public address since returning to the post of ordinary governor of the central bank, after deciding to remain at the institution as long as there are political and judicial pressures directed against him.

Republican President Trump, who wants lower interest rates to stimulate the economy, has been a constant stream of insults and criticism since his return to power in January 2025.

He tried to speed up Powell’s departure and replace one of his colleagues, Lisa Cook, the only black woman to become a Federal Reserve governor.

Jerome Powell finally broke his usual reticence at the beginning of the year to denounce the opening of an investigation against him by the US Department of Justice. He spoke of the “excuse” in the “broader context of constant threats and pressure from the government”.

The foundation explains that its award recognizes people who “made a courageous decision guided by their own conscience, regardless of the personal or professional consequences.”

Previous winners include former presidents such as George HW Bush and Barack Obama, as well as prominent politicians such as John McCain and Nancy Pelosi, and foreign statesmen such as Volodymyr Zelensky, reports Hina.

This year, the institution decided to award the second Courage Award to residents of the twin cities of Minneapolis and Saint Paul, which were at the center of the government’s anti-immigration operation at the beginning of the year. During those events, two Americans died in the interventions of the federal forces of law and order.

(Vijesti.ba)