Former President Donald Trump is open to considering JPMorgan Chase (NYSE:JPM) CEO Jamie Dimon as the Treasury Secretary if he regains the White House, while he is also open to allowing Jerome Powell to serve out his term as chairman of the Federal Reserve.
In a Bloomberg interview conducted in late June but only released yesterday, Trump acknowledged the possibility of working with Dimon in a new administration.
“He is somebody that I would consider, sure,” he said, noting he met with Dimon during a recent discussion with leading chief executives.
Trump and Dimon have been publicly critical of each other, with Dimon criticizing the former president’s handling of the Jan. 6, 2021, riot on Capitol Hill while Trump referred to him as a “highly overrated globalist.” More recently, Dimon offered praise of Trump’s economic policies during his presidential term, admitting that “he grew the economy quite well.”
Dimon is a self-identified Democrat whose name has been floated as a potential presidential candidate. In June 2023, he held a private meeting with the New Democratic Coalition, a group of moderate Democrats in Congress, although the contents of the meeting were not made public. Dimon has been quoted that “maybe one day I’ll serve my country in one capacity or another.”
With Powell, Trump appointed him as the Fed leader in 2018 but quickly berated how he steered the central bank and threatened to fire him. President Biden reappointed Powell in 2022, but Trump stated he would not offer Powell a third term.
In the newly published interview, Trump said he was not rushing to jettison Powell.
“There’s a lot of false information on that,” he said. “I’ve had my own disputes with him. But no, I would, I would let him serve it out especially if I thought he was doing the right thing.”
Powell’s term concludes in 2026 and his seat on the Fed’s board of governors is secured through 2028. He has publicly stated he had no intention of resigning before his term ends.
Photo courtesy Fortune Global Forum / Flickr Creative Commons
Mr. Dimon, a leftover of 2000’s financial crisis. And he is the top prospect for fed chair?!