Trump says Jamie Dimon Is Wrong to Criticize the Probe of Jay Powell

Summary

President Trump pushed back on JPMorgan CEO Jamie Dimon's criticism of the Justice Department probe into the Federal Reserve, saying Dimon was wrong and reiterating that rates should be lower. A Bloomberg reporter said the exchange is the latest friction point between Wall Street and Trump, who also signaled he would name his Fed chair pick in coming weeks despite confirmation concerns.

• Trump criticized Jamie Dimon for questioning the DOJ probe into the Federal Reserve.
• Trump said he thinks the probe is fine and that Dimon is wrong.
• Trump repeated his preference for lower interest rates and criticized Fed Chair Jay Powell.
• Trump suggested Dimon may prefer higher rates because JPMorgan earns more.
• The White House initially distanced itself from the probe but Trump later appeared supportive.
• Trump said he still expects to name his Fed chair pick in the next few weeks.
• Bloomberg reported the episode as another friction point between Wall Street and the White House.