Jamie Dimon, CEO of JPMorgan Chase, has expressed support for Kevin Warsh, the new chairman of the Federal Reserve, amid Wall Street criticism of his communication strategy. Warsh has reduced forward guidance on interest rate paths, a practice that allowed investors to anticipate monetary policy. Dimon defended this approach, stating that the Fed chairman is « doing what he needs to fight inflation, » which has not fallen below the 2% target since February 2021. The CEO of America’s largest bank dismissed critics as « squealing like stuck pigs. » Warsh has announced five task forces to examine various aspects of monetary policy, including one on communication and another on inflation frameworks.
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