Central banks should be apolitical, not unaccountable. Monetary technocrats should serve the People.

The Federal Reserve said Friday that it is leaving an international grouping of central banks that focused on how regulation of the financial system could help combat climate change. The Fed's membership has been criticized by Republicans in Congress.

Donald Trump is expected to elevate Michelle Bowman, a fifth-generation community banker and current Fed governor, as the government’s most influential banking regulator.

Fielding a range of questions about the imprint of the Trump administration on the U.S. central bank, Federal Reserve Chair Jerome Powell on Wednesday said that politics had not prompted the Fed's decision to leave a global climate-focused group,