JPMorgan CEO Dimon: Fed independence “absolutely critical”

JPMorgan CEO Dimon: Fed independence “absolutely critical”

JPMorgan Chase CEO Jamie Dimon reiterated the importance of Federal Reserve independence during the bank's second-quarter earnings call, stating that it is "absolutely critical" for the central bank's current and future leadership. Dimon's comments come amid ongoing tensions between the Federal Reserve and the Trump administration, with President Trump reportedly considering removing Fed Chair Jerome Powell.

Dimon emphasized that the independence of the Federal Reserve is essential for maintaining stability and credibility in the financial markets. He noted that meddling with the Fed could have adverse consequences and is not in the best interest of the economy. Dimon's comments highlight the delicate balance between political influence and the need for an independent central bank to make monetary policy decisions.

Additionally, Dimon addressed the potential for JPMorgan to use its excess capital for large acquisitions. He dismissed the idea of acquiring a private credit firm, stating that the bank can handle such opportunities internally. He also expressed skepticism about the idea of acquiring a large language model company, stating that it is not a strategic fit for JPMorgan.

The bank reported a 17% drop in net income to $15 billion and a 10% decline in net revenue to $45.68 billion during the second quarter. Despite the earnings drop, Dimon maintained that the bank remains open to inorganic growth opportunities but will prioritize organic growth pursuits.

References:
[1] https://www.bankingdive.com/news/jpmorgan-dimon-fed-independence-powell-trump-capital-acquisitions/753096/
[2] https://finance.yahoo.com/news/jpmorgan-ceo-dimon-says-fed-122256169.html
[3] https://www.reuters.com/business/finance/jpmorgan-ceo-dimon-says-fed-independence-absolutely-critical-2025-07-15/
[4] https://finance.yahoo.com/news/why-jamie-dimon-thinks-asset-prices-are-elevated-opening-bid-top-takeaways-161120122.html