Dimon isn't just the CEO of JP Morgan Chase, he's the closest thing we have today to the actual JP Morgan...the iconic financier of big business during the Gilded Age. What's news here isn't that Trump's considering him, but that he's considering serving under Trump, which shows a new nearly total embrace of the Dark Lord by the titans of finance. The same is happening in Silicon valley as Musk/Thiel lead the herd.
Donald Trump is considering Jamie Dimon for Treasury Secretary after a 'lovefest' CEO meeting
The JPMorgan Chase CEO has said he has thought about serving "in one capacity or another"
By Rocio Fabbro, Quartz Media
PublishedYesterday
Donald Trump is weighing tapping JPMorgan Chase chief Jamie Dimon as his next Treasury Secretary.
After a meeting with top U.S. executives last month, the Republican presidential candidate said in an interview with Bloomberg Businessweek published Tuesday that he would consider Dimon for the cabinet position.
“I have a lot of respect for Jamie Dimon,” Trump said.
Federal Reserve Chair Jerome Powell, whom Trump threatened to fire during his first term, also seems to have some job security. If elected, Trump said he would allow Powell to complete his four-year term as chair, which is set to end in May 2026.
Trump has continued to position himself as an overwhelmingly business friendly candidate. The former president told the group of more than 70 CEOs, which included Apple chief Tim Cook, Citigroup’s Jane Fraser, Bank of America’s Brian Moynihan, and Wells Fargo CEO Charles Scharf, that if re-elected, he would lower the corporate tax rate to 20%.
The corporate tax is currently set at 21%, which Trump lowered from 35% during his first term in the White House — a move that was praised by executives at the time, including Dimon.
He would, however, ultimately want to lower the rate all the way down to 15%, Trump told Bloomberg, “because that would put us in the absolute lowest in terms of incentive.” And his promises to the CEOs seem to have gone over well, at least according to Trump.
“That was a lovefest, and I will tell you when I’m not loved because I feel that better than anybody,” he said.
In a memo to JPMorgan employees Sunday, Dimon called on Americans to “stand firmly together against any acts of hate, intimidation or violence that seek to undermine our democracy or inflict harm,” following the assassination attempt on Trump at a Pennsylvania campaign rally on Saturday.
Dimon, who has helmed the nation’s biggest bank for two decades, has repeatedly denied having aspirations to run for office, despite calls bouncing around for years. Most recently, Pershing Square CEO Bill Ackman singled out Dimon as an ideal candidate following the first presidential debate.
Despite the encouragement, the 68-year-old executive says he’s happy where he is, although he hasn’t entirely ruled out holding public office down the line.
“I love my country, and maybe one day I’ll serve my country in one capacity or another,” Dimon told Bloomberg last year. “But I love what I do. I think JPMorgan do a great job for helping Americans, for helping countries around the world. And this is my job. This is what I’m gonna do, and I’m quite happy doing it.”
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