JPMorgan CEO Defends Fed Independence Amid Presidential Pressure

JPMorgan CEO Jamie Dimon strongly supports an independent Federal Reserve. Dimon called the Fed’s independence “absolutely critical.” This statement comes as President Trump publicly pressures the central bank to cut interest rates. Dimon warned against political interference with the Fed. He noted that “playing around with the Fed” often leads to bad results.

The White House, however, is moving ahead to select a new Fed Chair. Treasury Secretary Scott Bessent confirmed the process has started. Current Chair Jerome Powell’s term ends in May 2026. The administration has even started interviewing potential replacements. This is happening despite Powell’s term as a Fed Governor running longer.

Dimon’s concern centers on future policy. He believes the President’s choice for the next Chair could greatly influence the Fed’s decisions. An independent Fed is crucial for investor confidence. It helps ensure monetary policy is stable and non-political. Many experts agree that meddling with the Fed could seriously harm the U.S. economy.