JPMorgan Chase chief executive Jamie Dimon has warned the Trump administration’s attacks on the Federal Reserve could backfire and push borrowing costs and inflation higher.
Dimon said he had “enormous respect for Jay Powell the man” and was a strong supporter of the central bank’s independence.
“Anything chips away at that is probably not a great idea,” Dimon told reporters on a call for JPMorgan Chase’s fourth-quarter results. “And in my view, it will have the reverse consequence. It will raise inflation expectations and probably increase rates over time.”
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