Dimon Defends Fed Independence as Process to Pick New Fed Chair Begins

WSJ What’s News

The Wall Street Journal

News, Daily News

4 • 4K Ratings

🗓️ 15 July 2025

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

P.M. Edition for July 15. JPMorgan Chase CEO Jamie Dimon has become the first head of a U.S. financial institution to publicly address the Trump administration’s broadsides against Federal Reserve Chair Jerome Powell, even as Treasury Secretary Scott Bessent announces that the formal search for Powell’s replacement has begun. Plus, consumer prices rose 2.7% in June from a year earlier. WSJ chief economics correspondent Nick Timiraos joins to discuss what this means for the Fed. And Apple strikes a multimillion-dollar deal with the biggest U.S. supplier of rare earth magnets. We hear from WSJ senior reporter Jon Emont about the significance of the deal. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Oh, that's my prime delivery.
0:01.6	What, already?
0:02.7	Only one thing can match the buzz of Prime's fast delivery.
0:06.2	And that's the buzz of Prime's entertainment.
0:09.0	What are we watching?
0:09.7	Heads of state, that new action comedy with Idris Elber as the Prime Minister,
0:13.3	John Sina as the president, and Priyanka Chopra Jonas, as their only hope.
0:17.0	It looks like a blast.
0:18.3	From fast delivery to explosive entertainment, it's on Prime. For only
0:23.0	899 a month, join now. Content includes limited ads, subscription or to renews. For more information,
0:28.2	go to amazon.com.uk.U.K. slash prime. Jamie Diamond defends the Fed's independence,
0:36.0	as Treasury Secretary Scott Besant says the process to pick a new Fed chair is underway.
0:41.1	Starting the search now is far earlier than usual, and that could be something you do if you want to make him more of a lame duck.
0:48.2	Announce who his successor will be sooner than you otherwise would and try to get people to stop focusing on the lame duck
0:54.9	Powell and on whoever the new guy is.
0:57.4	Plus, tokenized stocks have just become available on crypto platforms, but problems are already
1:02.9	emerging.
1:04.1	And Apple strikes a multi-million dollar deal with America's biggest rare earth producer as the
1:09.2	U.S. seeks to bring an end to China's dominance.
1:12.2	It's Tuesday, July 15th. I'm Alex Osloaf for the Wall Street Journal.
1:16.8	This is the PM edition of What's News, the top headlines and business stories that move the world today.
1:24.9	We begin this evening with news that the process to choose the next head of the Federal Reserve is getting underway.
	...

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