Jamie Dimon backs Fed Chair Powell amid DOJ probe
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Fed, Trump and JPMorgan Chase
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President Donald Trump dismissed Jamie Dimon’s criticism over the Justice Department probe into the Federal Reserve, saying the JPMorgan Chase & Co. chief executive officer was “wrong” to suggest he was undermining the independence of the central bank.
"While I don't agree with everything that the Fed has done, I do have enormous respect for Jay Powell," JPMorgan Chase CEO Jamie Dimon said.
JPMorgan Chase reported lower fourth-quarter profits Tuesday as CEO Jamie Dimon endorsed Federal Reserve independence and offered an upbeat reading on the US economy.
JPMorgan Chase CEO Jamie Dimon has been defending the Fed and its leader from attempts at political interference for months. - Eva Marie Uzcategui/Bloomberg News. Jamie Dimon on T
"Any nominee from U.S. President Trump is likely to have to place additional emphasis on their independence to try and prove they are above politics."