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Markets vote for Fed chair Powell
The Observer
|July 20, 2025
Conspiracy theories that the US Federal Reserve is a tool of the “deep state” have percolated since at least the 1990s, when pseudoscientist G. Edward Griffin wrote The Creature from Jekyll Island. More recently Curtis Yarvin, an influential far-right thinker, has questioned whether Fed independence is a good idea — despite evidence that countries with independent central banks have lower inflation and interest rates.
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No wonder the financial markets wobbled last week on reports that Donald Trump plans to fire Jerome “Jay” Powell, the Fed chair. They sent a clear message: do not mess with the Fed’s independence.
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FLERE HISTORIER FRA The Observer
The Observer
Reeves needs to call time on dodgy stats
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Take tougher line on asylum human rights, judges told
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The Observer
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News that a Musk-owned fleet of drones is flying over London this weekend might be enough to prompt fears of a new Blitz.
1 mins
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The Observer
Ganges river dolphin
The dark is my delight.
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The Observer
Jerome Powell
If anyone can stand up to Trump, it's the affable and decisive Fed chair, writes Matthew Bishop
4 mins
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The Observer
'We're hiding some very dirty secrets'. The scandal of fake foreign honey
An investigation by Jon Ungoed-Thomas reveals the worldwide honey fraud that begins in China and ends with allegations of adulterated jars on UK supermarkets shelves
5 mins
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