Overview
- JPMorgan CEO Jamie Dimon said there is “absolutely, positively, no chance” he would serve as Federal Reserve chair under any circumstances.
- Dimon said he would take a presidential call and consider serving as Treasury Secretary, while emphasizing he likes running JPMorgan.
- He warned that eroding the Federal Reserve’s independence would likely push interest rates and inflation higher rather than lower.
- The Justice Department has opened a criminal investigation into Jerome Powell over testimony related to the Fed’s headquarters renovation, which Powell confirmed.
- Dimon signaled he plans to remain JPMorgan’s CEO for years and highlighted the hiring of Todd Combs to lead a new $10 billion group and advise him, a move Warren Buffett acknowledged.