ECB Official Stands Up for Fed Chair

In a recent interview with Boursorama, Francois Villeroy de Galhau, a prominent member of the European Central Bank (ECB) Governing Council and Governor of the Bank of France, openly criticized United States President Donald Trump for his remarks about Federal Reserve Chair Jerome Powell. Villeroy described Trump's comments as "wrong," praising Powell for his honesty and effectiveness in his role.

Trump's Discontent with Powell

President Trump had previously voiced his dissatisfaction with Powell, suggesting that the Fed chief was too slow in implementing interest rate cuts. This criticism comes at a time when the global economy faces uncertainties, making the Fed's decisions more scrutinized than ever.

Trade Tensions and Inflation Risks

Villeroy also touched upon the topic of inflation, noting that the risks stemming from ongoing trade tensions appear to be "weak" and could potentially lean towards the downside. This perspective offers a glimmer of hope amidst the current economic challenges.