BoE Governor Bailey Defends Standing Up for Powell Against Trump

Bailey's willingness to repeat the defense signals that central bank independence is now being treated as a cross-border concern rather than a domestic political matter, with the personal targeting of policymakers framed as the line that triggered collective pushback. The episode matters most for how central banks coordinate when institutional credibility is attacked from the political level, and for the precedent that peers will speak publicly on one another's behalf. Whether that norm holds — or whether public defense becomes routine and therefore diluted — is the open question worth watching.