"Wall Street Emperor" Dimon Supports Powell…"Fed Independence Is Crucial"

Standing Against President Donald Trump

Jamie Dimon, Chairman of JPMorgan Chase, the largest bank in the United States, has expressed his support for Jerome Powell, Chairman of the Fed, who is facing attacks from President Donald Trump.

According to the Wall Street Journal (WSJ) and others on the 15th (local time), Chairman Dimon said in an online meeting with reporters after the company announced its second-quarter earnings that day, "The independence of the central bank is absolutely vital." He added, "Playing games with the Fed can trigger completely opposite and negative results from what is intended." This is interpreted as a direct concern over President Trump's pressure on the Fed to lower interest rates.

On Wall Street, there are concerns that President Trump's political pressure on the Fed threatens its independence. However, most people in the industry refrain from commenting on the issue.

Compared to the first Trump administration, when Chairman Dimon often voiced critical opinions, he has shown a much more conciliatory stance in the current term. In this context, Dimon's direct support of Chairman Powell is interpreted by local media as a bold statement as a spokesperson for Wall Street.

Back in April, after President Trump announced a reciprocal tariff policy, Dimon warned of the possibility of a recession in an interview with Fox Business. A few days later, President Trump said he would delay imposing tariffs by 90 days, and at the time, it was analyzed that Dimon's interview influenced this decision.

Reporter Songryeol Lee, Hankyung.com yisr0203@hankyung.com