ECB Governing Council member Villeroy warns: Attacking the independence of the Federal Reserve is both illegal and endangers the democratic system

Jinse Finance reported that European Central Bank Governing Council member and Governor of the Bank of France, François Villeroy de Galhau, has joined global policymakers in warning against the White House's attacks on the Federal Reserve. Speaking in Vienna, he stated: "We Europeans must defend the independence of central banks in order to counter the serious setbacks from the Trump administration." Villeroy emphasized, "Independence is not an obstacle to achieving reasonably low interest rates. On the contrary, it is a prerequisite for achieving reasonably low interest rates, as it allows for long-term control of inflation and anchors the expectations of economic agents." Villeroy added that threats to the Federal Reserve have broader implications. He said, "Independence is granted by democracy, and attacking this independence not only violates U.S. law but also poses a danger to democracy."