Nine of the world’s most influential central bank governors have signed an extraordinary joint statement backing US Federal Reserve Chair Jerome Powell. The move is a direct challenge to the White House, which has threatened the independence of the Fed in a bitter power struggle.

Led by Bank of England’s Andrew Bailey and the ECB’s Christine Lagarde, the group described Powell as a man of "integrity" and "unwavering commitment." The statement is a diplomatic shield wall, designed to protect the global financial system from the unpredictability of President Trump’s administration.

Protecting the System

"The independence of central banks is a cornerstone of stability," the statement read. The signatories, which include governors from Brazil, South Korea, and Canada, fear that if the US Fed falls under political control, the credibility of monetary policy worldwide will crumble.

• The Alliance: 9 Governors including Lagarde (ECB) and Bailey (BoE).
• The Trigger: Trump’s DOJ investigation into Powell and repeated threats to fire him.
• The Stakes: The stability of the global financial order, which relies on a politically neutral US Dollar.

A Message to Washington

This is not just a letter; it is a warning. The global economy is fragile, and the guardians of finance are signaling that they will not stand by while the US President plays Russian roulette with interest rates. For emerging markets like Kenya, this solidarity is a welcome sign of stability in chaotic times.