ECB's Nagel urges Europe to back Fed's independence against Trump
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Joachim Nagel, President of Deutsche Bundesbank, attends the Federal Reserve Bank of Kansas City's 2025 Jackson Hole economic symposium, "Labor Markets in Transition: Demographics, Productivity, and Macroeconomic Policy" in Jackson Hole, Wyoming, U.S., Au
By Marc Jones
LONDON (Reuters) -The head of Germany’s powerful Bundesbank has urged Europe to speak up in support of the U.S. Federal Reserve as its independence comes under repeated attack from U.S. President Donald Trump.
Speaking in London, Joachim Nagel, described the situation, including Trump regularly calling for interest rate cuts and an ongoing attempt to fire Fed policymaker Lisa Cook as “not acceptable”.
“We have to speak up here,” Nagel said, saying European leaders were often "too quiet, too reluctant, too diplomatic".
"But this is something that's ... undermining the cornerstone of our system, our democracy, our joint values. And so I believe that maybe you have to be a little bit more loud here.”
(Reporting by Marc Jones; Editing by Daniel Wallis)
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