Powell at Alma Mater: "Universities Are a U.S. Asset... Must Defend Democracy"

"Take Risks and Uphold Your Convictions," Powell Urges

Jerome Powell, Chair of the U.S. Federal Reserve (Fed), urged graduates at his alma mater, Princeton University, to defend democracy, emphasizing that universities are an important national asset.

On the 25th (local time), during his commencement address at Princeton University, Powell stated, "We are leading the world in many areas, including scientific innovation and economic dynamism." He added, "Our outstanding universities are the envy of the world and are a crucial national asset." He also cautioned, "Do not take any of this for granted."

Jerome Powell, Chair of the U.S. Federal Reserve (Fed). Photo by Reuters and Yonhap News

Powell said, "Fifty years from now, when you look back, you will want to know that you did everything necessary to protect and strengthen democracy, and that you brought us closer to the founders' timeless ideals."

He went on to advise graduates to take risks, consider public service, and carefully maintain their integrity. Powell emphasized, "Fifty years from now, you will want to look in the mirror and know that you acted according to what you believed was right in every aspect of your life," adding, "In the end, all you have is your integrity."

Powell's remarks drew attention as they came amid the Trump administration's pressure on top U.S. universities. The Trump administration halted federal funding worth 3 trillion won to Harvard University after the school refused to comply with government demands for changes in education policy, including measures to eradicate antisemitism. The administration also took the drastic step of revoking foreign students' enrollment eligibility. Although this measure is currently suspended by the courts, President Trump on this day called for the disclosure of the nationalities and names of foreign students enrolled at Harvard.

Foreign media outlets such as The New York Times reported that the U.S. academic community is on edge over these actions by Trump, noting that while the pressure is currently on Harvard, the target could shift to other universities at any time.

Powell was appointed during the first Trump administration but has clashed with President Trump over interest rates. Earlier this month, President Trump criticized Powell for holding rates steady for three consecutive times, calling him "'Too Late' Jerome Powell, a fool who knows nothing."

This content was produced with the assistance of AI translation services.