The four largest US banks threatened Trump: Don't play with the Fed

Executives from Goldman Sachs, Bank of America, Citigroup and JPMorgan Chase issued a joint warning that political interference in monetary policy would pose serious risks not only to the U.S. economy but also to the global financial system.

In their statement, the four CEOs, representing a total of over $12 trillion in banking assets, said, “Influencing monetary policy by politics will both disrupt market stability and undermine international confidence.”

Here are the messages from the CEOs of banking giants:

Goldman Sachs CEO David Solomon emphasized independence in a statement to CNBC, saying, "The independence of the central bank, the independence of the Fed, is very important, and we must fight to protect it."

Bank of America CEO Brian Moynihan similarly stated that a stable and independent Fed is “critical to the functioning of a major global economy like the United States.”

Citigroup CEO Jane Fraser noted that the Fed's credibility is directly linked to its independence, stating that this is necessary for the US's global competitiveness and the health of capital markets.

JPMorgan Chase CEO Jamie Dimon highlighted the risks of political interference, saying, “Playing with the Fed could have negative consequences.”