Dimon of JPMorgan to secure the label of Treasury Secretary if Trump scores

Jamie Dimon, CEO of JPMorgan, might become Treasury Secretary if Donald Trump is elected US President

Jamie Dimon, CEO of JPMorgan, might become Treasury Secretary if Donald Trump is elected US President. Dimon, along with many other executives, condemned the January 6, 2021, attack on the US Capitol by Trump supporters attempting to prevent Congress from certifying Biden’s 2020 election victory. If Trump wins the November election, Dimon could be considered for the Treasury Secretary role, and Federal Reserve Chair Jerome Powell won’t be forced out. Trump’s interview, conducted in late June and published on July 16 by Bloomberg, revealed Dimon as a potential candidate. Trump had previously criticized Dimon as a “highly overrated globalist” but has acknowledged some of his positive remarks. Dimon previously praised Trump’s policies, saying at the World Economic Forum in Davos that Trump was “kind of right” about NATO, immigration, and China and that his tax reforms and economic growth efforts were successful.

Despite not being a Trump supporter, Dimon’s comments reflect his recognition of some of Trump’s achievements. On the Federal Reserve, Trump stated he has no plans to remove Powell, whose term expires in 2026 and his seat on the Fed Board in 2028. Trump appointed Powell in early 2018, though he later criticized Powell for interest rate hikes. Trump acknowledged that he likely didn’t have the power to fire Powell. Powell, appointed by Obama and later chosen by Trump to lead the central bank, has no plans to leave before his term ends. In his Bloomberg interview, Trump suggested the Federal Reserve should avoid cutting rates before the November elections, despite Powell asserting that politics do not influence the Fed’s decisions. Trump also proposed new tariffs, including a 10 percent across-the-board tariff on imports, due to foreign countries’ insufficient purchases of US goods.