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Fed Chair Powell Wins Kennedy Award, Defends Independence

6/1/2026

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Summary

Story summary

Fed Chair Jerome Powell accepted the Kennedy Courage Award.
Powell said the Federal Reserve’s independence is priceless for democracy and warned that politicized removals would erode credibility.
Powell will remain on the board until January 2028, blocking a vacancy, and admitted the pandemic-inflation response was imperfect.
He shared the award with Minnesota residents honored for immigration-crackdown courage, while Sen. Amy Klobuchar said it highlighted ordinary people, not officials.

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Story summary

Fed Chair Jerome Powell accepted the Kennedy Courage Award.
Powell said the Federal Reserve’s independence is priceless for democracy and warned that politicized removals would erode credibility.
Powell will remain on the board until January 2028, blocking a vacancy, and admitted the pandemic-inflation response was imperfect.
He shared the award with Minnesota residents honored for immigration-crackdown courage, while Sen. Amy Klobuchar said it highlighted ordinary people, not officials.