Powell, who has been under pressure from Trump multiple times, eloquently spoke about the independence of the central bank at the closed-door IMF meeting, receiving continuous applause.

According to sources, Federal Reserve Chairman Powell emphasized at the global finance ministers and central bank governors meeting that central banks must be free from political interference in order to focus on maintaining inflation stability and achieving high employment. The sources said that Powell, in a speech to finance ministers and central bank governors from various countries at the International Monetary Fund on Friday, passionately expressed his defense of central bank independence. The meeting was closed-door. Powell's speech received applause several times at the event, and other officials in attendance also made similarly passionate remarks.