Catenaa, Saturday, December 13, 2025- JPMorgan Chief Executive Officer Jamie Dimon signaled support for former Federal Reserve Governor Kevin Warsh as the next Fed Chair.
The Financial Times reported that Dimon says Hassett is the candidate likelier to cut rates in the short term.
He made the remarks at the bank’s private conference for asset management CEOs in New York on Thursday evening, the Financial Times reported.
Earlier in the day, President Donald Trump said he was leaning toward either Warsh or National Economic Council Director Kevin Hassett to lead the Fed next year.
Trump has been critical of the Fed and its chair, Jerome Powell, for not making dramatic cuts to interest rates.
When asked by reporters in a separate Oval Office event whether he should have a say in Fed decisions on interest rates, Trump said he should at least be consulted.
Dimon warned earlier this year that “the independence of the Fed is absolutely critical” and that playing around with the Fed “can often have adverse consequences”. JPMorgan declined to comment on Dimon’s remarks on Thursday.
The Fed cut rates to a three-year low on Wednesday, the third quarter-point move in a row.
But the bar for more action is high, with Powell saying the Fed was “well positioned to wait to see how the economy evolves”. In a fractious meeting, several regional central bank presidents called for borrowing costs to remain on hold.
Trump has vowed to avoid making the same mistake as he did with Powell, saying loyalty and a willingness to lower rates aggressively were the crucial criteria for getting the job.
He told The Wall Street Journal on Friday that Warsh and Hassett were the frontrunners in the race. Betting markets still give Hassett higher odds.
