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Former Fed Chair Jerome Powell, honored with the Profile in Courage Award, passionately defended the independence of critical institutions like the Fed, courts, and universities as pillars of democracy, warning that political meddling threatens their credibility. Despite stepping down in May, he remains on the Fed’s board until 2028, shielding the central bank from immediate political control amid ongoing efforts to remove another Fed governor. Powell acknowledged the Fed’s imperfections, especially during pandemic-era inflation, but emphasized accountability and course correction as vital to public trust. He shared the award with Twin Cities residents who courageously stood against an immigration crackdown, reinforcing the award’s mission to celebrate everyday bravery in defending democratic values.

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