JPMorgan Chase CEO Jamie Dimon has issued a clear warning against political interference with the Federal Reserve amid President Donald Trump's public attacks on Fed Chair Jerome Powell. Dimon emphasized that the independence of the Federal Reserve is "absolutely critical," not only for Powell but also for his successor. This stance reflects growing concern among Wall Street leaders, including CEOs from Goldman Sachs, Bank of America, and Citigroup, who have publicly defended the Fed's autonomy as essential to maintaining economic stability and monetary credibility. The warnings come as Trump has hinted at replacing Powell, raising fears that political pressure could undermine the central bank's ability to manage inflation and support financial markets. Despite the rhetoric, Dimon noted that the President has stated he does not intend to remove Powell. Meanwhile, some analysts suggest that the Fed's independence may already be compromised to some extent by political pressures. The debate highlights the tension between the White House and the Federal Reserve at a critical time for U.S. economic policy.
Jamie Dimon’s right to fret about the next crisis, but the biggest swath of the private debt revolution isn’t running on big risks. https://t.co/rhoHH20BIn https://t.co/e6MzW8CO7y
WATCH: The supposedly sacred idea of Fed independence has already been shattered https://t.co/tkAnpnRQd5
La independencia de la Fed... ¿es solo un mito? Ilan Benhamou, de JPMorgan, dice que la Reserva Federal no es tan libre de presiones políticas como muchos creen. Te contamos: https://t.co/Comq14NlkJ 📸: Stefani Reynolds/Bloomberg https://t.co/XCe88wZ7kD