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The Guardian - UK
The Guardian - UK
Business
Kalyeena Makortoff Banking correspondent

Trump hits back at JP Morgan CEO’s defence of Federal Reserve

Donald Trump
Donald Trump has said he would continue with his plans to announce a replacement for the Federal Reserve’s chair. Photograph: Shawn Thew/Pool/Shawn Thew - Pool/CNP/Shutterstock

Donald Trump has hit out at the JP Morgan boss Jamie Dimon, saying the Wall Street executive was wrong to suggest he was undermining the independence of the Federal Reserve.

The US president and his administration have come under fire for their attacks on the Fed’s chair, Jerome Powell, who is facing a criminal investigation by the US Department of Justice over alleged “abuse of taxpayer dollars” linked to renovations to the central bank’s headquarters in Washington.

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