Pres. Trump says JPMorgan's Dimon is wrong on the Fed, defends credit card cap proposal

Summary

President Trump criticized Fed Chair Powell and said rates should be lower, while suggesting Jamie Dimon likely wants higher rates because banks may profit. Trump also defended a proposed 10% credit card interest rate cap for one year, arguing consumers paying 28% need protection despite concerns about negative side effects. The remarks were made in front of the press and covered by CNBC.

• Trump said Powell has done a bad job and should lower rates.
• He suggested Jamie Dimon wants higher rates because he may profit.
• Trump defended a proposed 10% credit card interest cap.
• He said consumers paying 28% interest should be protected.
• The cap would apply for a one-year period under the proposal.
• He dismissed concerns about negative side effects raised by the House Speaker.
• The comments were made to the press and covered by CNBC.