Jamie Dimon doubles down on backing Powell despite Trump criticism, saying an independent Fed means lower rates

Jamie Dimon, chief executive officer of JPMorgan Chase & Co (Credit: Patrick Bolger/Bloomberg - Getty Images)

• Jamie Dimon backed Fed Chair Jerome Powell’s decision to hold rates steady, despite criticism from President Trump. The JPMorgan Chase CEO also warned the Fed’s independence has historically led to lower rates, thus suggesting that political interference could drive rates up. Dimon echoed Powell’s caution, saying it’s too early to judge the full impact of tariffs on the FOMC’s mandate.

JPMorgan Chase CEO Jamie Dimon has doubled down on his support for Fed chairman Jerome Powell—despite criticism from the Oval Office of the Fed’s current stance.