0559 GMT - The U.S. Department of Justice's investigation into and possible criminal charges against Fed Chair Jerome Powell is a whole new level of attempted government coercion of the Fed on monetary policy, says Luci Ellis, chief economist at Westpac. Powell's strongly worded response is both warranted and unsurprising, says Ellis, a former senior manager at the Reserve Bank of Australia. Powell's broad-based support suggests there is a limit to President Trump's ability to coerce the central bank, Ellis says. The next few weeks could prove to be quite eventful in the central banking world, she adds. (james.glynn@wsj.com; Twitter @JamesGlynnWSJ)
(END) Dow Jones Newswires
January 14, 2026 00:59 ET (05:59 GMT)
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