The Wall Street Journal

Dimon Defends Fed Independence After Trump Attacks

Many on Wall Street privately worry that political pressure will undermine the central bank’s credibility

JPMorgan Chase CEO Jamie Dimon spoke on the Fed after the bank’s earnings announcement Tuesday.
JPMorgan Chase CEO Jamie Dimon spoke on the Fed after the bank’s earnings announcement Tuesday. Photo: Al Drago/Bloomberg News

JPMorgan Chase Chief Executive Jamie Dimon sounded Wall Street’s clearest warning against the Trump administration’s attacks on Federal Reserve Chair Jerome Powell, describing the central bank’s independence as crucial.

“I think the independence of the Fed is absolutely critical,” Dimon told media members in a call after the bank’s earnings announcement. “Playing around with the Fed can have adverse consequences, the absolute opposite of what you might be hoping for.”

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