US EditionBank of Canada’s Macklem backs U.S. Fed chair Powell amid DOJ probe
Bank of Canada Governor Tiff Macklem supports Fed Chair Powell amid DOJ probe, emphasizing the importance of central bank independence and evidence-based decisions.
- On Jan. 12, 2026, Tiff Macklem, Governor of the Bank of Canada, publicly defended Jerome Powell, Chair of the U.S. Federal Reserve, amid a DOJ criminal probe.
- The DOJ's Friday subpoena of the Federal Reserve was disclosed Sunday by Powell, who linked it to pressure from President Donald Trump over rate decisions.
- Financial markets showed as of Monday no expected rate cuts by the Bank of Canada or the U.S. Fed, while some analysts said muted reactions reflected confidence Powell could fend off allegations tied to a Fed $2.5 billion project.
- Central-Bank independence faces scrutiny as Tiff Macklem stresses its importance while a bipartisan group likens Monday's actions to developing countries; White House press secretary Karoline Leavitt denied Trump directed the DOJ probe.
- Analysts note Donald Trump has repeatedly used investigations to attack rivals, while Tiff Macklem and Jerome Powell have appeared together at the May 21, 2025 G7 Finance Ministers meeting, Banff, Alta.
32 Articles
32 Articles
A peek inside the Fed's renovations that are now at the center of a DOJ probe
The Federal Reserve's two offices have been under construction for three years. Cost overruns are now at the center of a DOJ probe into the bank's Chair.Heather Diehl/Getty ImagesThe Federal Reserve's renovation project was expected to cost $1.9 billion. It now has a $2.5 billion price tag.Lead paint and asbestos discoveries contributed to increased renovation expenses and delays.Fed chairman Jerome Powell said a new DOJ probe is part of ongoing…
Bank of Canada governor defends U.S. Fed's Powell amid Trump administration probe
Bank of Canada Governor Tiff Macklem came to the defence of his U.S. counterpart Jerome Powell on Monday as the chair of the Federal Reserve faces a criminal investigation from U.S. President Donald Trump's Justice Department.
Bank of Canada Governor Tiff Macklem defends his U.S. counterpart Jerome Powell, while the President of the U.S. Federal Reserve (Fed) is the subject of a criminal investigation conducted by President Donald Trump's Department of Justice.
Bank of Canada’s Macklem backs U.S. Fed chair Powell amid DOJ probe
Bank of Canada governor Tiff Macklem is coming to the defence of his U.S. counterpart Jerome Powell as the chair of the Federal Reserve faces a criminal investigation from President Donald Trump’s justice department
Winnipeg Free Press
Bank of Canada's Macklem backs U.S. Fed chair Powell amid DOJ probe
Breaking News, Sports, Manitoba, Canada
Coverage Details
Bias Distribution
- 69% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
