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

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