A few weeks after leaving his post as chairman of the Federal Reserve (Fed), Jerome Powell will receive a prestigious "Courage Award" from the John F. Kennedy Foundation. The former head of the central bank is being praised for defending the institution's independence in the face of numerous pressures exerted by Donald Trump during his return to the White House.
The ceremony will take place in Boston, where Jerome Powell will deliver his first public speech since handing over the chairmanship of the Fed to Kevin Warsh. Now simply a governor of the institution, he has chosen to retain his position despite ongoing legal proceedings and political pressure targeting certain central bank officials.
The Kennedy Foundation believes that Jerome Powell played a crucial role in preserving the independence of the Fed, considered a pillar of American and global economic stability. For many months, Donald Trump publicly criticized the central bank chairman, accusing him in particular of maintaining interest rates deemed too high to support economic growth.
An award with strong political symbolism
Appointed head of the Fed by Donald Trump in 2018, Jerome Powell gradually became one of the Republican president's main targets. Since January 2025, Trump has launched numerous verbal attacks against him and attempted to hasten his departure. The administration has also sought to undermine other central bank officials, notably Governor Lisa Cook.
Created to reward individuals who have demonstrated political courage despite personal or professional risks, the John F. Kennedy Prize has already recognized several prominent international figures, including Barack Obama, George H.W. Bush, Nancy Pelosi, John McCain, and the Ukrainian president. Volodymyr Zelensky.
This year, a second special prize will also be awarded to the residents of Minneapolis and Saint Paul, two Minnesota cities that have found themselves at the heart of tensions related to the Trump administration's immigration policy and several controversial law enforcement operations.
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