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.
23 Articles
23 Articles
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’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
"In relation to the events of the last days, I want to repeat high and good sounds my total solidarity and admiration by 'Jay' Powell, a model of integrity and commitment to the public interest," said Villeroy of Galha during his speech of New Year. In a statement made on Sunday, the President of the Fed, Jerome Powell, said that the institution received an intimacy of the Department of Justice which could result in criminal charges with regard …
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