JPMorgan CEO Jamie Dimon on Tuesday
- stressed the importance of preserving the Federal Reserve’s independence, calling it “absolutely critical.”
- Speaking during the bank’s second-quarter earnings call, Dimon said that independence must be maintained not only under current Chair Jerome Powell — whom he expressed respect for — but also for future Fed leaders.
- He warned that political interference in the central bank’s operations “can often have adverse consequences.”
MUFG with similar points:
- expect legal challenge immediately to any attempt to fire Federal Reserve Chair Powell
- forecast a long-lasting hit to confidence in the institution
This article was written by Eamonn Sheridan at www.forexlive.com.