The CEO of the biggest U.S. bank warned Tuesday that “playing around with the Fed can often have adverse consequences.”

Jamie Dimon, JPMorgan Chase's CEO, cautioned President Trump on the risks of tariffs to the US economy during the bank's earnings call. He stressed the importance of the Federal Reserve's independence,

The Federal Reserve last month voted unanimously to leave rates unchanged. Fed Chair Jerome Powell said he expected “meaningful” inflation ahead as consumers pay more for goods due to the administration’s planned import tariffs. President Trump has demanded immediate steep cuts, and called for Powell to resign.

JPMorgan Chase CEO Jamie Dimon said Tuesday that the independence of the Federal Reserve is 'absolutely critical' and that 'playing around with the Fed can often have adverse consequences.'