Jerome Powell Gains Support from Meme-Stock Traders Amid Federal Reserve Independence Defense
Jerome Powell, Federal Reserve Chair since 2018, received unexpected backing from meme-stock traders after publicly defending the Fed's independence. Powell criticized the Trump administration for threatening criminal prosecution to influence interest-rate cuts. Known for guiding U.S. monetary policy through the pandemic and inflation, Powell's leadership has earned him support from individual investors who appreciate his transparent communication style, including regular press conferences after policy meetings.