Federal Reserve Chair Jay Powell emphasized the importance of protecting democracy and the value of American universities during a commencement address at Princeton, amid escalating attacks from the Trump administration on higher education, including barring Harvard from enrolling international students. While Powell praised US universities as vital assets, he faced criticism from Trump for not lowering interest rates quickly enough, with discussions surrounding potential dismissal arising. A recent Supreme Court opinion suggested that the administration cannot interfere with the Fed’s independence, reinforcing Powell’s intention to serve his full term.
