Governor Malhotra on Friday said that US Fed Chair Jerome Powell had done a commendable job in maintaining the independence of the central bank.
“I think he’s doing a very good job. Maintaining the independence of the central bank is very important,” Malhotra said.
His comments come amid US President Donald Trump‘s repeated criticism of Powell over holding the policy rates.
Malhotra said that he was present at a gathering of finance ministers and central bankers of top 30-40 countries a couple of months ago in the US.
“J Powell was also there. He spoke about what he was doing and about the central bank’s independence. He was the only one who got a roaring applause,” Malhotra said.
