Trump and Dimon Discussed the Economy at Private Meetings

• Dimon and Trump held several meetings to discuss the economy.
• Dimon defends the independence of the Federal Reserve and Powell.
• Rates may not decrease at the nearest time.

The General Director of JPMorgan Chase Jamie Dimon and President Donald Trump held several private meetings in the last two months to discuss the state of the economy. These meetings reflected an improvement in relations between them after years of tension.

Recently, Dimon attended a White House meeting where economic issues, affordable housing, and trade policy of the Trump administration were discussed, according to information from The Wall Street Journal.

At the meeting, which also included Treasury Secretary Scott Bessen and Commerce Secretary Gohvard Lutnik, Dimon expressed support for the relevant trade agreement with Japan.

During the meetings, Dimon defended the head of the Federal Reserve Jerome Powell, emphasizing the importance of political independence of the central bank. Trump, in turn, continues to criticize Powell for the lack of a decrease in interest rates.

According to Dimon, political pressure on central banks usually leads to a reverse effect, increasing inflation. He also noted that the independence of the Federal Reserve helps maintain lower interest rates.

For many years, Trump and Dimon have had various conflicts on political topics, including criticism of tariff policy. However, recently Dimon noted that tariffs have become "significantly softened" and are being implemented more cautiously.

According to recent data, the chances of a rate decrease have decreased from 65% to 39% compared to the previous week.

Tags: USA/Politics/Economy