JP Morgan boss says Trump attacks on Federal Reserve could push up inflation
by Kalyeena Makortoff Banking correspondent from on (#72SX6)
Jamie Dimon says pressure on chair Jerome Powell could ultimately increase interest rates
The boss of JP Morgan, the largest US bank, has said Donald Trump's attacks on the Federal Reserve chair, Jerome Powell, are putting central bank independence at risk and could backfire and ultimately push up interest rates and inflation.
Jamie Dimon told reporters on Tuesday he had enormous respect" for the Fed chair, who on Friday became the target of a controversial criminal investigation by the US Department of Justice (DoJ) over alleged abuse of taxpayer dollars".
The Associated Press contributed reporting
Continue reading...