OAN Staff James Myers
11:00am – Friday, November 29, 2024
JPMorgan Chase & Co. CEO Jamie Dimon has been in contact with President-elect Donald Trump through secret back channels in recent months and has been helping advise Trump on his policy agenda, according to multiple reports. This was revealed in the news.
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One Republican insider said the president-elect's aides had a series of “candid conversations” with Mr. Dimon, who was himself rumored to be eyeing a government job at the time.
“They've been talking regularly for months,” said another Republican official briefed on the situation.
3 sources close to 47th The president said the secret back channels focused on plans for tax cuts, government spending, banking regulation and trade.
A company official added that Trump's aides set up the call, which continued even after the presidential election victory, to “create some light” between the two sides and prevent details of the exchange from being leaked. he added.
Despite Mr. Dimon's leanings when it comes to politics, their relationship has flourished. President Trump hinted in June that Dimon might be his nominee for Treasury secretary, and later claimed he had support from the White House, but Dimon has not made any public statements about it.
Mr. Trump and Mr. Dimon have continued to speak despite bouts of tension, including on Nov. 14.th When the president-elect declared on Truth Social that he would “not invite” Mr. Dimon to join his Cabinet. The banker immediately retorted: “I haven't had a boss in 25 years and I'm not ready to start yet.”
This also comes as the JPMorgan CEO, a registered Democrat who has refused to endorse either candidate in the White House race, was reportedly considering joining a potential Kamala Harris administration. This also comes after he resigned after his poll numbers plummeted.
Another source close to Trump claimed that Dimon told the president-elect that he was “very grateful.” CNBC In January, it was said that the winner of the presidential election was “sort of right” in criticizing illegal immigration and weak defense spending by America's NATO allies.
As a result, Mr. Dimon's comments angered Democrats within the Biden administration, who placed Mr. Dimon on a White House blacklist.
Two weeks ago, the head of JPMorgan said that President Trump's threat to impose tariffs on America's trading partners, if done “sensibly,” would “bring people to the table.”
Mr. Dimon is also known to be a vocal critic of current U.S. banking regulations.
“It's time to fight back…I've lived through this,” Dimon told a stunned audience at a recent conference in New York.
“Things are becoming unfair and unjust, and it's hurting businesses. Many of these rules are hurting low-wage individuals,” Dimon said on Oct. 28.th.
Additionally, in his annual letter to shareholders last May, Mr. Dimon called on the U.S. government to make “effective policy decisions” and warned that “a politician's dream is a businessman's nightmare.”
Wells Fargo analyst Mike Mayo said President Trump's next term will bring about “the biggest turning point in banking regulation in 30 years.”
“This is a vindication of Jamie,” Mayo said. new york post. “He looks at all the bureaucracy and bureaucracy and says enough is enough about the regulatory theater. It's like doing banking with one hand tied behind your back.”
He added that President Trump's potential to block strict banking rules “should mean that borrowers get better loan rates and better customer service.”
The top analyst said, “It would be foolhardy for any administration not to listen to Jamie Dimon. Everyone should at least consult him on ideas.”
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