Days after suffering an attack that could have cost him his life, the tycoon continues with the campaign for the November elections. After confirming JD Vance as his vice presidential candidate, new statements were made regarding key positions in his eventual government.
In an interview conducted at the end of June with the portal Bloomberg, Trump He announced that he is considering granting him the position of Secretary of the Treasury to the current president and CEO of the JPMorgan, the largest bank in the world by market capitalization.
Who is Jamie Dimon, the Wall Street banker who could be US Treasury Secretary?
Dimon, a powerful Wall Street banker, would have an advantage in to occupy the office in charge of managing the economic direction of the United Statesaccording to the consideration of the Republican Party candidate. Since JPMorgan declined to comment on the statements of Trump.
The eventual nomination of the CEO of JPMorgan raises doubts about the direction that the former president would give to a new administration, given the favorable position of Dimon With respect to raising taxes on the richamong other points.
In December 2023, during the DealBook Summit organized by The New York Times, the hedge fund manager Bill Ackman talked with Dimon and suggested that he imagine what measures he would take if he were President of the United States. “I would make people like you pay a little more. These issues of interest would disappear the day I took office because it is unfair,” he said.
He also expressed his views on the role of presidents in the governance of a country. “I believe that Presidents should have a growth strategy. Economic growth is good for business. When I go to France and the UK now and meet with the president and the prime minister, it is good for growth, innovation and proper taxation for the people of the country,” he said.
Regarding a possible entry into politics, Dimon He showed his interest. “Obviously, it crossed my mind because people mention things like that to you. I love my country, and maybe one day I will serve my country in one way or another.”said.
At the beginning of the year, it was learned that the board of directors of the JPMorgan approved a package of US$36 millions for your CEOhis highest compensation to date. The amount is made up of a base salary of US$1.5 million and US$34.5 million in variable incentive based on performance.
“Annual compensation for 2023 reflects the Mr. Dimon’s management of the companywith growth across all of its market-leading business lines, record financial results and a strong balance sheet,” the board wrote.
The position of Dimon With respect to tax to the rich collides with the policy applied by Trump during his government. In 2017 he sanctioned a package of Exemptions for incomes over US$400,000 which will only expire in 2025. According to the US Congressional Budget Officemaintaining such a fiscal policy would mean adding 3.3 trillion dollars to the debt over the next 10 years.
Donald Trump’s request to the US Federal Reserve on interest rates
Also, in his interview with Bloomberg, Trump said that if he wins the November elections he will deepen this policy and would reduce the corporate tax rate to 15%.
In addition to hinting at a possible Dimon appointment, the former president confirmed that he will not seek to remove the president from office. United States Federal Reserve, Jerome Powellbefore his current tenure at the central bank ends. While Powell’s term as Fed chair ends in early 2026, his position as governor of the governing body continues until January 31, 2028.
In the interview conducted in late June, according to Bloomberg, Trump said that The Federal Reserve should refrain from cutting interest rates ahead of the November election, in which the Republican presidential candidate faces Democratic US President Joe Biden.
In addition to targeting China with new tariffs of between 60% and 100%, he said he would impose a blanket 10% tariff on imports from other countries, citing complaints that other nations do not buy enough American goods.
Source: Ambito
