{"id":256782,"date":"2025-05-25T19:14:40","date_gmt":"2025-05-25T19:14:40","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/finance\/federal-reserves-jay-powell-urges-us-university-students-to-protect-democracy\/"},"modified":"2025-05-25T19:14:40","modified_gmt":"2025-05-25T19:14:40","slug":"federal-reserves-jay-powell-urges-us-university-students-to-protect-democracy","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=256782","title":{"rendered":"Federal Reserve\u2019s Jay Powell urges US university students to protect democracy"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>Unlock the White House Watch newsletter for free<\/p>\n<p class=\"article__content-sign-up-topic-description o3-type-body-base\">Your guide to what Trump\u2019s second term means for Washington, business and the world<\/p>\n<p><iframe class=\"article__content-sign-up-iframe close\" scrolling=\"no\" id=\"signUpIframe\" data-prev-url=\"\/register\/in-article-sign-up?ft-content-uuid=afc28dce-ed2b-430d-8a7e-0ac5ed442eff&amp;newsletter-id=65b8fec772badb00166eafc6\"><\/iframe><\/div>\n<div id=\"article-body\">\n<p>Federal Reserve chair Jay Powell called on students to protect democracy while praising American universities as \u201ca crucial national asset\u201d, days after the Trump administration escalated its attacks on higher education.\u00a0<\/p>\n<p>\u201cWe lead the world in so many ways, including in scientific innovation and economic dynamism,\u201d the US\u2019s central banker told students in a commencement address at Princeton on Sunday. \u201cOur great universities are the envy of the world and a crucial national asset.\u201d<\/p>\n<p>This week the Trump administration barred <a href=\"https:\/\/www.ft.com\/stream\/38bf05bb-2482-4c84-812c-8f909d7a2e62\" data-trackable=\"link\">Harvard University<\/a> from enrolling international students, the latest assault on the Ivy League over perceived leftwing indoctrination and antisemitism.\u00a0It has revoked student visas and demanded colleges hand over information about which students have participated in protests.<\/p>\n<p>While extolling <a href=\"https:\/\/www.ft.com\/us-universities\" data-trackable=\"link\">American universities<\/a>, Powell, who has himself come under attack from the US president,\u00a0urged Princeton graduates\u00a0\u201cto take none of this for granted\u201d.\u00a0<\/p>\n<p>\u201cWhen you look back in 50 years, you will want to know that you have done whatever it takes to preserve and strengthen our democracy, and bring us ever closer to the Founders\u2019 timeless ideals,\u201d the Fed chair said.\u00a0<\/p>\n<p>The bar on Harvard, which places the future of more than 6,500 international students in limbo, was temporarily <a href=\"https:\/\/www.ft.com\/content\/bdf1ad72-8040-4cc3-9adc-6ee2ab09ee86\" data-trackable=\"link\">blocked<\/a> on Friday by a US district court judge.\u00a0<\/p>\n<p>The administration has also cut billions in funding for higher educational institutions in the US, leading European countries such as France to offer academic positions to leading scholars currently\u00a0based in the US.<\/p>\n<p>Ivy League colleges, which include Harvard and Princeton and six other universities, regularly top global rankings. <\/p>\n<p>Powell called on the class of 2025 to take risks, consider public service and guard their integrity \u201ccarefully\u201d. <\/p>\n<p>\u201cFifty years from now, you will want to be able to look in the mirror and know that you did what you thought was right, in every part of your life,\u201d the Fed chair said. <\/p>\n<p>\u201cAt the end of the day, your integrity is all you have.\u201d <\/p>\n<p>Powell was appointed by Trump during his first term, but is now under fire from the president for not cutting interest rates fast enough.\u00a0\u00a0<\/p>\n<p>The US president has labelled him \u201cMr Too Late\u201d and a \u201cmajor loser\u201d after the Fed left interest rates on hold at between 4.25 and 4.5 per cent this year.\u00a0<\/p>\n<p>Powell and other Fed officials say they cannot lower interest rates until it becomes clear that the president\u2019s global trade war will not trigger another wave of persistent US inflation. <\/p>\n<p>Kevin Hassett, head of Trump\u2019s National Economic Council, last month signalled the administration would \u201ccontinue to study\u201d ways to fire Powell before his term ended next May. Trump has since said he has \u201cno intention\u201d to fire the Fed chair. <\/p>\n<p>Powell, who intends to serve his full term, has said he believes that firing him over differences of opinion on monetary policy is \u201cnot permitted under the law\u201d. <\/p>\n<p>A Supreme Court opinion issued earlier this week indicated that the US\u2019s nine top justices believed the White House did not have the right to meddle with the Fed\u2019s independence to set monetary policy as it saw fit by firing members of the central bank\u2019s rate-setting committee.\u00a0<\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Unlock the White House Watch newsletter for free Your guide to what Trump\u2019s second term means for Washington, business and the world Federal Reserve chair Jay Powell called on students to protect democracy while praising American universities as \u201ca crucial national asset\u201d, days after the Trump administration escalated its attacks on higher education.\u00a0 \u201cWe lead [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":256783,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[93],"tags":[7732,11558,27127,27128,1409,28744,2704,10980,28795],"dealstore":[],"offerexpiration":[],"class_list":["post-256782","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-democracy","tag-federal","tag-jay","tag-powell","tag-protect","tag-reserves","tag-students","tag-university","tag-urges"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - 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