Jamie Dimon defended Powell, saying, “anything that chips away” at the central bank’s independence “is not a good idea.”
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JPMorgan Chase CEO Jamie Dimon slammed the Trump administration’s move to open an investigation into Fed Chair Jerome Powell over the $2.5 billion revamp of its headquarters, warning that threats to the central bank’s independence could raise interest rates and stoke inflation.
GOP lawmakers and White House insiders accuse Powell of lying to Congress about the work during his testimony in June, prompting US Attorney Jeanine Pirro to step in and order the probe.
But JPMorgan boss Jamie Dimon, speaking during a media call to unveil the bank’s fourth-quarter results, defended Powell, saying “anything that chips away” at the central bank’s independence “is not a good idea.”
