President-elect Donald Trump and the CEO of JP Morgan Chase (JPM), Jamie Dimonmade it clear on Thursday that they will not unite in the government.
“I wish the president well,” Dimon said during an interview with Bloomberg. “Nor I’ve had a boss for 25 years, and I’m not ready to start“He added. It was his first public conversation since the US elections. But the president-elect was the first to speak. He addressed Truth Social approximately thirty minutes before Dimon’s talk to dispel the rumors.
“I have a lot of respect for Jamie Dimon of JPMorgan Chase, but he will not be invited to be part of the Trump Administration. Thank you to Jamie for your excellent service to our country!” read a post on Trump’s Truth Social account.
So far, Trump has filled his Cabinet primarily with his closest loyalists and has dismissed voices that have offered almost any recent criticism. Trump previously preemptively ruled out — also in a social media post — name his former rival Nikki Haley and former Secretary of State Mike Pompeo.
Before the US elections, Dimonwho has been an outspoken voice on a variety of issues, did not give explicit support to either Vice President Kamala Harris or Trump.
Dimon’s words
And scrutiny of his opinions increased as both campaigns considered a potential Dimon endorsement as a coveted prize. Trump made sure to praise Dimon in Thursday’s post, and in October, Trump’s account even posted a false claim about an endorsement from Dimon.
Public attention on Dimon comes as speculation about Trump’s economic team intensifies, with the president-elect moving quickly to name his team following last week’s election victory.
So far, Trump has focused primarily on non-economic areas, with a number of controversial nominations, such as Congressman Matt Gaetz as his nominee for attorney general, or Fox News host Pete Hegseth to lead the Department of Defense.
Appointments for top economic positions are expected to come in the coming days.
Several figures, from investor Scott Bessent to former U.S. Trade Representative Robert Lighthizer to Cantor Fitzgerald CEO Howard Lutnick, are seen as potential candidates for positions, including the coveted role of Treasury secretary.
Dimon won’t be among them, but, as the New York Times and Yahoo Finance reported, it was never really likely that Dimon would join the Trump White House. A source mentioned that the CEO privately favored Harris. In the days leading up to Election Day, Dimon’s wife, Judy, also volunteered on Harris’ campaign.
Although much is uncertain about what a Trump administration will mean for the economy, U.S. bank stocks rose after Trump’s victory, indicating that financial institutions expect to have easier time in Washington under a new Republican administration.
Source: Ambito
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