Fed boss Powell steps down

Outgoing Fed Chair Jerome Powell has set a good example for his successor, notes L’Echo:

“Jerome Powell will be remembered for one thing above all else: that he was the one who stood up to Trump to safeguard the Fed’s independence and, by extension, its credibility. … His decision to seek confrontation under these circumstances testifies to his tenacity and strong sense of responsibility. The Fed’s independence is a factor that must not be underestimated, for the stability of US markets rests on the credibility of the US central bank – and, given its clout, so does that of the global financial system as a whole. In this respect, ‘Soldier Powell’s’ courageous conduct deserves recognition. Let’s hope that his successor takes inspiration from it.”