JPMorgan Chase CEO Jamie Dimon warns the Justice Department’s grand jury subpoena of Federal Reserve Chair Jerome Powell risks undermining confidence in the central bank and could ultimately push inflation expectations and interest rates higher.

Wall Street's relationship with the Trump administration is souring. Bank executives warned the White House on Tuesday that President Trump's policies and the Justice Department's investigation into Federal Reserve Chairman Jerome Powell could harm the economy.

The nation’s largest bank earned $57 billion in 2025, but Jamie Dimon, its chief executive, said “the benefits of deregulation” would help in the future.

America's biggest bank by assets, JPMorgan Chase, reported fourth-quarter earnings on Tuesday.

The bank’s CEO Jamie Dimon said the US economy remained “resilient” and that “consumers continue to spend, and businesses generally remain healthy.”

The Trump administration is lifting regulations, and deal making is heating up. For Jamie Dimon, being JPMorgan Chase’s chief executive was more lucrative in 2025 than ever.

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said that the US Justice Department’s attacks on the Federal Reserve have the potential to undermine the independence of the central bank and possibly boost borrowing costs.

Dimon said the bank's expected $9 billion spending increase would help it stay competitive not only with other big banks, but also fintech companies.