At Princeton's graduation, Jerome Powell called on students to defend democracy and realize their role in the country's future.
Powell on Protecting Democracy
During his speech to the class of 2025, Jerome Powell urged students to take responsibility for strengthening American democracy, stating, "When you look back in 50 years, you will want to know that you did whatever it takes to preserve and strengthen our democracy."
Political Pressure on Higher Education
Powell's remarks coincided with increasing political pressure on elite institutions like Harvard and Princeton amid actions by the Trump administration aimed at restricting the enrollment of international students and criticizing student activists. The Trump Department of Homeland Security barred Harvard from taking new international students, jeopardizing the futures of over 6,500 individuals.
Fed Independence and Powell's Plans
Powell emphasized that his independence as Fed chair is bolstered by a recent Supreme Court ruling affirming that the president cannot interfere with the Fed's operational independence or remove its members due to policy differences. Powell plans to serve out his term despite the political tension surrounding his appointment.
Powell's speech highlights crucial issues regarding the role of higher education and the independence of institutions amid political divisions in the US.
