Jamie Dimon says don't worry about Trump's attacks on the Fed
The JPMorgan Chase CEO has previously spoken out in favor of an independent Fed following the president's blistering attacks
Jamie Dimon, chief executive officer of JPMorgan Chase & Co., arrives for a ribbon cutting ceremony at the company's new global headquarters building in New York, US, on Tuesday, Oct. 21, 2025. (Victor J. Blue/Bloomberg via Getty Images)
JPMorgan Chase CEO Jamie Dimon says he isn't worried about President Donald Trump's onslaught against the Federal Reserve. In fact, he believes the central bank will retain its usual separation from the executive branch.
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"The president has made clear he believes in Fed independence. He's also made it clear he's going to speak his mind freely," Dimon said in an interview with Reuters published Thursday. "I think it will remain independent."
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Dimon has previously spoken out in favor of an independent Fed following Trump's blistering attacks. Since the summer, the president has attempted to extend his influence over the central bank, launching relentless attacks on Fed Chair Jerome Powell to lower interest rates and fuel economic growth. Dimon, though, has said he views it as a risky gambit.
“I think the independence of the Fed is absolutely critical,” Dimon said in a July call with reporters. “Playing around with the Fed can have adverse consequences, the absolute opposite of what you might be hoping for.”
In the Reuters interview, Dimon expressed support for Trump taking stakes in publicly-traded U.S. firms in strategic sectors, such as semiconductor production and rare earths minerals.
So far, the Trump administration has acquired ownership stakes in a handful of companies that include chip-making giant Intel, rare-earth producer MP Materials, mining company Lithium Americas.
"We need to give these companies a chance to survive and build a real business before China undercuts them," Dimon said. More federal intervention is possible in quantum computing funds.
Dimon also downplayed the necessity of a $20 billion lending facility managed by private banks to Argentina. The Trump administration has ridden to the rescue of Argentine President Javier Milei and his embattled, libertarian reforms. Milei recently eked out a surprise victory in legislative elections that strengthened his hold on government.
"If Milei could continue to implement his policies for the rest of this term, and maybe for a second term, you could turn Argentina," Dimon said.