Durban:
The G20 finance ministers stressed on Friday that central banks must remain independent, after months of reception of the attacks by American president Donald Trump against the boss of the federal reserve Jerome Powell.
It was the first press release under the chairmanship of the G20 of South Africa and marked a rare consensus for a block shaken by the drastic trade policies of its richest member, the United States.
“Central banks are strongly determined to ensure price stability … and will continue to adjust their policies dependent on data,” said the group, whose members represent more than 80% of global economic production, after a meeting of finance ministers in South Africa.
“The independence of the central bank is crucial to achieving this objective,” he said in the press release, also signed by the United States.
Trump was unleashed on Powell several times for not having dropped interest rates more quickly, calling the central banker of “numbness” and “moron”.
The American secretary of the Treasury, Scott Bessent, did not attend the two-day meeting in the port city of Durban, with Washington represented rather by an interim subsectary for international affairs Michael Kaplan.
Bessent also ignored a similar meeting in February and US Secretary of State Marco Rubio snubbed a meeting for G20 foreign ministers.
Trump insists that the Fed should increase the American economy by reducing current beach rates from 4.25 to 4.5%.
The American Central Bank has adopted an expected attitude, now stable rates when it continues its plan to bring inflation to its long -term objective of 2%.
On Friday, Trump intensified his criticism of Powell, whose mandate ended in May 2026, calling him “one of my worst appointments”.
The attack followed suggestions that the 72 -year -old banker could be rejected for “fraud” on his management of a renovation project at the headquarters of the Federal Reserve.
Since his return to power in January, Trump has upset the rules of world trade, announcing a multitude of drastic Stop -Start rates that have upset investors and governments around the world, including the G20 – a group of 19 nations and the European Union and the African Union.
American prices should go from 10% to various higher levels for a list of dozens of savings, including the EU on August 1. A 50% distinct right on copper imports will also come into force.
