US president says Jamie Dimon was wrong to suggest he was undermining independence of central bank

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Donald Trump has hit out at the JP Morgan boss Jamie Dimon, saying the Wall Street executive was wrong to suggest he was undermining the independence of the Federal Reserve.

The US president and his administration have come under fire for their attacks on the Fed’s chair, Jerome Powell, who is facing a criminal investigation by the US Department of Justice over alleged “abuse of taxpayer dollars” linked to renovations to the central bank’s headquarters in Washington.