Jamie Dimon says don’t worry about Trump’s attacks on Federal Reserve

Jamie Dimon, CEO of JPMorgan Chase, said he is not worried about President Donald Trump’s attacks on the Federal Reserve. In fact, he believes that the central bank will retain its usual separation from executive power.

“The president has made it clear that he believes in the independence of the Fed. He has also made it clear that he will express his opinion freely,” Dimon said in a Reuters interview published on Thursday. “I think he will remain independent.”

Dimon has already spoken out in favor of an independent Fed following Trump’s scathing attacks. Since the summer, the president has tried to expand his influence over the central bank, launching relentless attacks on Fed Chairman Jerome Powell for lowering interest rates and fueling economic growth. Dimon, however, said he considered it a risky gamble.

“I think the independence of the Fed is absolutely essential,” Dimon said on a call with reporters in July. “Gaming with the Fed can have detrimental consequences, the absolute opposite of what you might hope for.”

In the Reuters interview, Dimon expressed support for Trump taking stakes in publicly traded U.S. companies in strategic sectors, such as the production of semiconductors and rare earth minerals.

So far, the Trump administration has acquired stakes in a handful of companies, including chipmaking giant Intel, rare earth producer MP Materials and mining company Lithium Americas.

“We need to give these companies a chance to survive and build a real business before China weakens them,” Dimon said. Greater federal intervention is possible in quantum computing funds.

Dimon also downplayed the need for a $20 billion lending facility run by private banks in Argentina. The Trump administration has come to the aid of Argentine President Javier Milei and his struggling libertarian reforms. Milei recently won a surprise victory in parliamentary elections, strengthening his hold on the government.

“If Milei could continue to implement his policies for the rest of this term, and perhaps for a second term, you could transform Argentina,” Dimon said.