Published by Global Banking & Finance Review®
Posted on September 30, 2025
1 min readLast updated: January 21, 2026
Add as preferred source on GoogleBundesbank Chief Nagel urges Europe to support the Fed's independence against Trump's pressures for interest rate cuts and dismissal of Lisa Cook.
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)
Monetary policy refers to the actions taken by a central bank to manage the money supply and interest rates in an economy to achieve macroeconomic objectives such as controlling inflation, consumption, growth, and liquidity.
A central bank is a financial institution that manages a country's currency, money supply, and interest rates. It also oversees the banking system and implements monetary policy.
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