[Powell Praises Former Fed Chair Volcker for 'Braving' Political Pressure] According to a report by Golden Finance, Federal Reserve Chairman Jerome Powell on Saturday praised former Fed Chairman Paul Volcker for 'braving' political pressure during his fight against inflation in the 1980s. These remarks are particularly significant as Powell himself has been striving to defend the Fed's independence amid attempts by the Trump administration to pressure him into lowering interest rates. In a recorded video for the Paul A. Volcker Public Integrity Award, Powell stated: 'His actions remind us that independence and integrity are inseparable—we need independence to do the right thing, and we need integrity to wisely exercise that independence.'