President-elect Trump and JPMorgan Chase CEO Jamie Dimon made it clear on Thursday that they will not work together in government.
"I wish the president well," Dimon said in his first public remarks since the U.S. election. "I haven't had a boss in 25 years and I'm not going to have one now."
But the president-elect got a head start, posting on Truth Social about 30 minutes before Dimon spoke to dispel the rumor.
"I have great respect for Jamie Dimon of JPMorgan Chase, but he will not be invited to join the Trump Administration. Thank you Jamie for your outstanding service to our Country!" Trump's Truth Social account said in a post at 2 p.m. ET.
Trump has so far largely filled his Cabinet with his closest supporters and shut out any recent criticism, having previously ruled out former rival Nikki Haley and former Secretary of State Mike Pompeo in social media posts.
Dimon has been an outspoken voice on a range of issues ahead of the U.S. election, but he has not thrown his weight behind either Harris or Trump.
Dimon did provide advice to both candidates through informal and formal advisers.
Trump went out of his way to praise Dimon in his post on Thursday, and in October, Trump's account even posted a false claim about his candidacy that Dimon endorsed.
As speculation intensifies about Trump's economic team, the president-elect is moving quickly to nominate his team to keep up with last week's election victory.
So far, Trump has focused primarily on non-economic areas, nominating a series of controversial picks, including Rep. Matt Gaetz (R-Calif.) as his nominee for attorney general and Fox News anchor Pete Hegseth (R-Calif.) to lead the Department of Defense.
The nominee for the top economic post is expected to be announced within days.
Dimon will not be among those candidates. It was never a long shot that Dimon would join the Trump administration. One source said Dimon privately preferred Harris. In the days before Election Day, Dimon's wife, Judy, also volunteered to join Harris' campaign.
While there is still much uncertainty about what a Trump administration will mean for the economy, U.S. bank stocks surged after Trump's victory, suggesting financial institutions expect work will be easier in Washington under the new Republican administration.
Dimon himself has called for less regulation and recently slammed the "flood of regulations" under the current Biden administration.
On Thursday, Dimon said he does expect the Trump administration to reduce current regulations and make it easier for companies to merge.
However, given his concerns about the current geopolitical environment, Dimon still believes the chances of a soft landing for the U.S. economy are “less likely than others think.”
Article forwarded from: Jinshi Data
