Interfering with the "independence" of the Federal Reserve, limiting credit card interest rates, the disagreement between the Trump administration and Wall Street intensifies.

According to the report by the Associated Press on the 14th, since the beginning of President Trump's second term, Wall Street has benefited from the White House's tax cuts and deregulation policies, and the relationship between Wall Street and the government has been like a honeymoon period. However, recently, their relationship is deteriorating rapidly. The criminal investigation of Federal Reserve Chairman Powell has made Wall Street worried about the independence of monetary policy being shaken. Faced with increasing pressure on people's livelihood burdens before the midterm elections, the Trump administration's proposal to implement restrictions on credit card interest rates for a one-year period with a cap of 10% has further deepened the rift between the two sides. The Wall Street Journal reported that on the 11th, after Powell disclosed that the Department of Justice had issued a subpoena to the Federal Reserve, JPMorgan Chase CEO Jamie Dimon publicly defended him, stating, "I don't agree with everything the Fed does, but any action that undermines the Fed's independence is probably not good." As one of the most influential CEOs in the U.S., Dimon has always strived to maintain a good relationship with the White House and publicly supported most of Trump's agenda. However, on the 13th, Trump harshly rebutted Dimon's comments, saying, "We should lower interest rates, Dimon may want higher rates, maybe that way he can make more money." On the same day, the CEOs of several Wall Street banks once again warned the White House that Trump's actions are more harmful than beneficial to the U.S. economy. In the face of this warning, Trump did not make any concessions in his policy proposals and criticism of the Federal Reserve.