Dimon Backs Warsh on Reduced Guidance at Federal Reserve

Jamie Dimon, CEO of JPMorgan Chase, is backing Federal Reserve Chairman Kevin Warsh's approach to reduced guidance in a time of economic uncertainty.

Warsh has pulled back from forward guidance, which indicates the path of rates and gives investors confidence that the Fed is taking its mandate seriously.

Dimon thinks Warsh's strategy makes 'tremendous sense' and praises his efforts to fight inflation, which hasn't been below 2% since February 2021.

'I think he's raising the right issue with the task force,' Dimon said. 'I wish them the best. They will, over time, do the right thing.'

Warsh has announced five task forces to examine communication, data quality, the balance sheet, new productivity drivers like AI, and inflation frameworks.