JPMorgan Chase CEO Jamie Dimon has been communicating with President-elect Donald Trump through secret back channels in recent months, helping Trump and his team craft a policy agenda before and after his decisive victory, according to an exclusive report from the New York Post.
Four sources close to Trump’s transition team told The Post that Dimon served as a “sounding board” for the fresh president Economic manifesto.
First, a a little about Dimon.
The 68-year-old, who like Trump grew up in Queens, New York, has an estimated net worth of $2.6 billion. Since 2006, he has been Chairman and Chief Executive Officer of JPMorgan Chase – the largest bank in the United States in terms of assets under management, valued at nearly $4 trillion. Dimon’s An attempt to sell off $12 billion in subprime mortgages in 2006 protected his bank from the 2008 crash.
The point?
This is another example of Trump listening to and following the advice of very intelligent, very successful people in their respective fields, as opposed to Washington bureaucrats or agenda-driven university professors.
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“They have been speaking regularly for months,” said a Republican source who briefed The Post. Another source said Trump’s inner circle had a series of “candid conversations” with Dimon.
Three of the sources close to Trump said ongoing communications have focused on the fresh president’s plans to cut government spending, banking regulation, taxes and trade. The first goal, cutting government spending, follows the appointment of Tesla and SpaceX CEO Elon Musk and entrepreneur Vivek Ramaswamy, running in the 2024 presidential primary, to head Trump’s planned Department of Government Efficiency (DOGE). ).
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An insider told the Post that senior Trump aides initiated the calls to “provide some daylight” between Trump and Dimon to prevent details of the exchange from leaking. A spokesman for the Trump transition team declined to comment, as did a JPMorgan spokesman.
Here is more:
The serene, cozy relationship between Trump and Dimon has flourished despite the banker’s cryptic and secretive tendencies when it comes to politics. Trump floated Dimon’s name as a possible candidate for treasury secretary in June and later claimed he had received White House approval – even though Dimon had made no public statement to that effect.
Trump and Dimon have also continued their discussions despite some tensions, including on November 14 when the president-elect stated as much on Truth Social Dimon is “not invited” to join his cabinet. The banker promptly shot back: “I haven’t had a boss in 25 years and I’m not ready to start yet.”
The JPMorgan CEO, a registered Democrat who declined to endorse either candidate in the White House race, reportedly even considered joining a Kamala Harris administration but then ruled himself out of doing so Wall Street giants to leave as their poll numbers plummeted, The Post previously reported.
“Two weeks ago,” according to the Post report, Dimon said that Trump’s threat to impose tariffs on America’s top trading partners “will bring people to the table” if “done wisely.”
Dimon, a staunch critic of current U.S. banking rules, criticized in a recent report the “rush” of bureaucracy drawn up by Democratic-backed regulators foul-mouthed tirade. “It’s time to fight back… I’m sick of this shit,” the CEO told the shocked audience.
The conclusion
I hesitate to repeat myself, but I will anyway. In my not-so-humble opinion, Donald Trump has already conclusively proven that he is a wiser man than he was in 2016 when it comes to seeking advice from sources he might not have listened to during his first presidency, which he did as he filled his cabinet positions and appointed additional advisers.
