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Australia's central bank says Fed independence is important

ReutersJul 24, 2025 4:08 AM

- The head of Australia's central bank said on Thursday the U.S. Federal Reserve was acting properly to preserve its independence in challenging times by focusing on the economy.

Answering questions after a speech on policy, Reserve Bank of Australia Governor Michele Bullock said central bank independence was very important and what was going on in the United States was challenging that.

"The Fed is doing what it's supposed to be doing, which is focusing on economy, employment. They're not getting drawn into the debate," Bullock said. "And so at this stage, I would say that they're preserving their independence by acting in the way they think is appropriate."

U.S. President Donald Trump has been a vocal critic of the Fed for now cutting interest rates more aggressively and is due to visit the central bank in Washington on Thursday.

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