The head of America's central banking system encouraged Princeton University's 2025 graduates to do "whatever it takes to preserve and strengthen our democracy" ina May 25 commencement speechat the Ivy League university. Jerome Powell, the chairman of the Federal Reserve, also remarked on the importance of public service and how the country's "great universities are the envy of the world and a crucial national asset," in an apparent rebuke of President Donald Trump'swar on elite colleges and universities. Powell, however, is likely shielded from Trump's ire —which he often receives. TheSupreme Courtin a May 22 ruling appeared to give Powell some protection from Trump when it weighed in on the president's firing of two independent members of labor boards, with the justices noting that the Federal Reserve system is "uniquely structured" and part of a "distinct historical tradition" of independence. Thecarve-out for the Fedsuggests the central bank's leaders will enjoy stronger protections against Trump than other quasi-governmental entities. More:Supreme Court says Fed is unique, easing worries over Trump's ability to fire Powell The Fed chair, who graduated from Princeton in 1975 with a degree in political science rather than economics, joked that he picked the wrong major at the New Jersey school. "I had brushed off my parents' one academic suggestion, which was to major in economics, which struck me as boring and useless," Powell said. "After 13 years at the Fed, I admit I was wrong about that!" This article originally appeared on USA TODAY:Fed Chair Jerome Powell urges Princeton grads to protect US democracy
