Fed’s Powell tells Princeton grads to guard integrity amid Trump criticism

Jerome Powell, the chair of the U.S. Federal Reserve, spoke to Princeton graduates about the importance of upholding integrity amidst criticism from President Donald Trump. Addressing the Class of 2025 on May 25, Powell offered advice on avoiding career mistakes and urged graduates to preserve their honor and respect. He emphasized the significance of integrity, stating that it is essential for individuals to look back on their lives with pride and confidence in their decisions. Powell has faced pressure from Trump to decrease interest rates, with the president even referring to him as a “major loser” for not complying with his requests. Despite Trump’s push for rate cuts to stimulate economic growth, Powell has maintained a cautious approach due to concerns about potential repercussions from Trump’s policies. Powell reiterated the Fed’s commitment to promoting maximum employment and stable prices, emphasizing that decisions are made based on economic data and risk assessments. In his speech, Powell highlighted the role of public service, citing the response to the coronavirus pandemic as an example of collective efforts that safeguarded the economy. He encouraged graduates to consider serving their fellow citizens as a fulfilling and worthwhile endeavor.