Trump hits back at JP Morgan CEO’s defence of Federal Reserve
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Donald Trump has criticized JP Morgan CEO Jamie Dimon for suggesting that he is undermining the Federal Reserve's independence. Trump's comments come amid scrutiny of his administration's attacks on Fed Chair Jerome Powell, who is currently under investigation by the Justice Department for alleged misuse of taxpayer funds related to the Fed's renovations. This situation highlights the ongoing tensions between the White House and the central bank.
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The Federal Reserve has historically operated independently from political influence, a principle that is now being challenged by Trump's rhetoric and actions. The ongoing investigation into Powell could set a precedent for how future administrations interact with the central bank, potentially reshaping the landscape of U.S. monetary policy.
This summary is based on information available at the time of publication and may be subject to change as new developments arise.
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