ECB's Lagarde defends central bank independence amid probe into Fed's renovation, backed by global leaders.

ECB President Christine Lagarde stressed the importance of central bank independence during a speech in Washington D.C., praising Fed Chair Jerome Powell for resisting political pressure amid a Justice Department criminal probe into the Fed’s headquarters renovation. Lagarde, joined by over a dozen global central bank leaders, affirmed that independence is essential for economic and financial stability. The investigation, linked to political criticism from former President Donald Trump, who has attacked Powell and nominated critic Kevin Warsh as a potential successor, has intensified debates over monetary policy autonomy.