Trump vs. Jamie Dimon Over Fed Independence Escalates as IMF and Fitch Warn of Higher Rates
IMF chief Kristalina Georgieva backed Fed Chair Jerome Powell as he faces political pressure from the Trump administration. Trump said he doesn’t plan to fire Powell but left future action open. Fitch warned that eroding Fed independence could damage the U.S. credit rating. JPMorgan’s Jamie Dimon and European officials cautioned that interference could push rates higher.