JPMorgan Chase CEO Jamie Dimon warns the Justice Department’s grand jury subpoena of Federal Reserve Chair Jerome Powell risks undermining confidence in the central bank and could ultimately push inflation expectations and interest rates higher.

JPMorgan CEO Jamie Dimon is the latest top voice in the banking world to lend his support to embattled Fed Chair Jerome Powell.

JPMorgan Chase CEO Jamie Dimon has emerged again as a fervent supporter of Federal Reserve chief Jerome Powell. His backing comes on the heels of Powell’s announcement that the Department of Justice had issued a subpoena against the central bank.

JPMorgan Chase CEO Jamie Dimon spoke out Tuesday in support of Federal Reserve Chair Jerome Powell, who is being investigated by the Justice Department. Reporter Alexander Saeedy says Dimon’s position reflects that of many on Wall Street.

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said that the US Justice Department’s attacks on the Federal Reserve have the potential to undermine the independence of the central bank and possibly boost borrowing costs.

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"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.