JPMorgan Chase CEO Jamie Dimon defended the Federal Reserve's independence amidst President Trump's pressure for rate cuts, cautioning against policy interference. Dimon highlighted potential adverse consequences of meddling with the central bank.

Trump has been highly critical of Jerome Powell this year, pressuring him to cut rates. The Fed Chair has said he's awaiting further clarity on inflation.

The C.E.O. of JPMorgan Chase, who has rarely taken on President Trump during his second term, wades into the argument over the Federal Reserve chair.