Prominent officials have praised the U.S. Federal Reserve, its chairman and its independence, amid new attacks from President Donald Trump.
During a CNBC-moderated panel at the IMF-World Bank meetings in Bali Thursday, Bank of England Governor Mark Carney said that Fed Chairman Jay Powell "is an individual that really understands the plumbing of the U.S. and global financial systems."
"That's an incredible advantage for the system at a time that the system is changing, to have someone in his position who has that level of technocratic expertise," Carney told CNBC's Geoff Cutmore.
Powell has been criticized several times for his work at the U.S central bank by the president. On Wednesday, Trump told reporters that "the Fed is going loco (crazy)" by increasing interest rates. Trump also said that he is "not happy" with the decisions to hike rates.