Noam Galai/Getty Images JPMorgan Chase chief Jamie Dimon has warned that the Trump administration’s attacks on Federal Reserve Chair Jerome Powell could backfire by driving up borrowing costs and causing inflation to spike. Dimon, who oversees the largest U.S. bank by assets, said during a call discussing JPMorgan’s fourth-quarter results that he had “enormous respect” for Powell and was a strong supporter of the Fed’s independence. “Anything that chips away at that is probably not a great idea,” he said, according to the Financial Times . “And in my view, it will have the reverse consequences. It will raise inflation expectations and probably increase rates over time.” Read more at The Daily Beast.