Dimon Says Chipping Away at Fed Independence ‘Not a Great Idea’

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said that the US Justice Department’s attacks on the Federal Reserve have the potential to undermine the independence of the central bank and possibly boost borrowing costs.

“Everyone we know believes in Fed independence,” Dimon said Tuesday on a conference call with members of the media after his company reported fourth-quarter earnings. “And anything that chips away at that is probably not a great idea. And in my view, will have the reverse consequences. It’ll raise inflation expectations and probably increase rates over time.”

Jamie Dimon

Photographer: Eva Marie Uzcategui/Bloomberg

President Donald Trump’s administration ...