François Villeroy de Galhau, a member of the Governing Council of the European Central Bank and Governor of the French Central Bank, praised U.S. Federal Reserve Chairman Jerome Powell, describing him as a "model central banker" who is independent and shows courage in revealing economic truths, despite the increasing political pressures he faces from the U.S. administration.
In a statement published on the French Boursorama website, Villeroy said, "In everything he does, Powell typically shows what a central banker should be; he speaks the truth independently, and that is exactly what he did; I salute him for his professionalism and courage."
These statements come at a time when U.S. President Donald Trump continues his public criticisms of Powell, accusing him of "playing politics" for not responding to demands for interest rate cuts, and expressing his anticipation for "the day Powell leaves his position."
Powell recently stated that he does not expect to cut interest rates in the near future, warning at the same time that the tariff plans being promoted by the Trump administration could lead to increased inflation and unemployment rates in the United States.
In contrast, Trump praised the European Central Bank's stance in taking faster steps to reduce interest rates, taking advantage of the decline in inflation in the euro area towards the two percent target, which gave the European Bank a wider margin to act.
The European Central Bank recently reduced interest rates for the seventh time in one year, warning that economic growth in the region would face significant pressure due to U.S. trade policies.
Villeroy noted that "the risks of inflation currently appear low, and it is likely that those risks are in a downward direction."
Regarding the upcoming European Central Bank meeting in June 2025, Villeroy refused to disclose his position on the possibility of a new interest rate cut, affirming that "all options are on the table."