15-07-2025
JP Morgan boss warns Trump not to ‘play around with the Fed'
The head of America's biggest investment bank has warned that 'playing around with the Fed can often have adverse consequences' after President Trump called Jerome Powell, head of the central bank, a 'knucklehead'.
Jamie Dimon, chief executive of JP Morgan Chase, and one of the world's most powerful bankers, said on Tuesday that the independence of the Federal Reserve was 'absolutely critical'.
He added: 'Playing around with the Fed can often have adverse consequences, absolutely opposite of what you might be hoping for.'
Trump has stepped up his personal attacks on Powell and urged him to lower the present 4.25 per cent to 4.5 per cent benchmark interest rate. In a Truth Social post on Tuesday, Trump wrote: 'Fed should cut Rates by 3 Points. Very Low Inflation. One Trillion Dollars a year would be saved!!!'
