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Global central banks work on statement in solidarity with Fed's Powell, Bloomberg News reports

BY Reuters | ECONOMIC | 01/13/26 04:08 AM EST

Jan 13 (Reuters) - Global central bank officials are working on a statement to express support for Federal Reserve Chair Jerome Powell after the Trump administration opened a ?criminal investigation into him, Bloomberg News reported on Tuesday, ?citing a person familiar with the matter.

The joint ?statement, which will be open for ?all central ?banks to sign, is expected to be issued under the ?Bank for International Settlements ?banner, the report said, adding that it could be issued as early ?as Tuesday.

The Bank for ?International ?Settlements is a central bank umbrella body, often dubbed as the central bank to the ?world's central banks.

Reuters could not immediately verify the report. The BIS and the U.S. Federal Reserve did not immediately respond to a request for comment.

The U.S. Justice Department issued ?subpoenas ?last week over comments Powell made to Congress last summer about cost overruns on ?a $2.5 billion renovation of the central bank's Washington headquarters.

The Trump administration's decision drew condemnation from former Fed chiefs and a chorus of criticism from key members of Trump's Republican Party on Monday, following ?an unusually sharp public rebuke from Powell calling the move a "pretext" to win presidential influence over interest rates.

(Reporting by ?Bipasha Dey in Bengaluru; Editing by Andrew Heavens)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

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