Former Federal Reserve Chair Jerome Powell warned that politicizing the Fed would erode public trust, in his first public remarks since leaving the top post.
"Democratic institutions take time to build but can be torn down quickly," Powell said while accepting the John F. Kennedy Profile in Courage Award.
Powell stressed the importance of preserving democratic institutions, including the Fed, courts, and universities.
He noted the Fed has faced a stress test, including efforts by President Trump to fire a Fed governor and calls for Powell's resignation.
Powell remains as a Fed governor to protect the central bank's independence. The award also honored citizens of Minneapolis and St. Paul.
