Former President Donald Trump is eyeing JPMorgan Chase CEO Jamie Dimon as a potential Treasury Secretary if he wins the 2024 election. This revelation came after Trump met with over 70 top U.S. executives last month.
In a recent interview with Bloomberg Businessweek, Trump expressed his admiration for Dimon, stating, “I have a lot of respect for Jamie Dimon.” This comment has sparked speculation about the banking titan’s possible role in a future Trump administration.
Trump’s Business-Friendly Approach
Trump is positioning himself as a pro-business candidate. At the executive meeting, he promised to lower the corporate tax rate from its current 21% to 20% if re-elected. He even suggested a future goal of reducing it to 15%, claiming this would make the U.S. more competitive globally.
“That would put us in the absolute lowest in terms of incentive,” Trump told Bloomberg, referring to his proposed 15% rate.
The former president seemed pleased with the executives’ response to his proposals. “That was a lovefest,” he said, adding, “I will tell you when I’m not loved because I feel that better than anybody.”
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Dimon’s Political Future
Despite the buzz around his potential cabinet role, Dimon has consistently denied any political ambitions. However, he hasn’t completely ruled out public service. In a 2023 Bloomberg interview, Dimon said, “I love my country, and maybe one day I’ll serve my country in one capacity or another.”
Dimon’s leadership at JPMorgan Chase, spanning two decades, has made him a respected figure in the business world. His influence extends beyond banking, as shown by his recent memo to employees following an assassination attempt on Trump. In it, Dimon called for unity against “any acts of hate, intimidation or violence that seek to undermine our democracy.”
Other Key Players
Trump’s potential cabinet isn’t the only topic of discussion. The former president indicated he would allow Jerome Powell to finish his term as Federal Reserve Chair, which ends in May 2026. This is a notable shift from Trump’s previous threats to fire Powell during his first term.
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The meeting with executives also included other prominent figures like Apple’s Tim Cook, Citigroup’s Jane Fraser, and Bank of America’s Brian Moynihan. Their presence underscores the importance of the business community in shaping economic policy discussions.
