Jamie Dimon, a frequent critic of President Trump’s first term, has been more conciliatory this time around, regularly complimenting the administration’s corporate tax cut extensions and slashing of bank regulations, and finding reasons to compliment aspects of Mr. Trump’s approach to immigration.
On Tuesday, however, the chief executive of JPMorgan Chase went out of his way to take exception to Mr. Trump’s posture toward Jerome Powell, the chair of the Federal Reserve. Mr. Trump and his allies have been withering toward Mr. Powell, whom they blame for not cutting interest rates and have accused, with no evidence, of political bias.
“Playing around with the Fed can often have adverse consequences — the absolute opposite of what you might be hoping for,” Mr. Dimon told reporters after his bank’s quarterly earnings release.
Mr. Dimon said that he hoped Mr. Trump would not attempt to replace Mr. Powell before the end of the chair’s term next spring, and that the president would support a replacement who was independent.
Disclaimer
The information contained in South Florida Reporter is for general information purposes only.
The South Florida Reporter assumes no responsibility for errors or omissions in the contents of the Service.
In no event shall the South Florida Reporter be liable for any special, direct, indirect, consequential, or incidental damages or any damages whatsoever, whether in an action of contract, negligence or other tort, arising out of or in connection with the use of the Service or the contents of the Service. The Company reserves the right to make additions, deletions, or modifications to the contents of the Service at any time without prior notice.
The Company does not warrant that the Service is free of viruses or other harmful components
