[Federal Reserve Governor Powell Warns: A Politicized Fed Will Destroy Public Trust] According to Golden Finance, on June 1, Federal Reserve Governor Powell warned that a politicized Federal Reserve would destroy public trust and stated that the Fed and other democratic institutions are undergoing a 'stress test.' The Federal Reserve does not consider the rise or fall of political parties or figures, and if the president could dismiss Fed officials, the credibility of the Federal Reserve would decline.