Donald Trump is considering appointing JPMorgan Chase chief Jamie Dimon as his next Treasury Secretary.
The Republican presidential candidate mentioned Dimon as a potential cabinet choice after meeting with top U.S. executives last month, according to an interview with Bloomberg Businessweek.
“I have a lot of respect for Jamie Dimon,” Trump stated.
Regarding Federal Reserve Chair Jerome Powell, Trump, who had previously threatened to fire Powell during his first term, now says he would let Powell serve out his current term, which ends in May 2026.
Trump continues to position himself as a business-friendly candidate. During a meeting with over 70 CEOs, including Apple’s Tim Cook, Citigroup’s Jane Fraser, Bank of America’s Brian Moynihan, and Wells Fargo’s Charles Scharf, Trump indicated he would lower the corporate tax rate to 20% if re-elected.
The corporate tax rate, currently at 21%, was lowered from 35% during Trump’s first term, a move that had been praised by executives, including Dimon. Trump told Bloomberg he would like to decrease the rate even further to 15% to provide significant incentives.
Following an assassination attempt on Trump at a Pennsylvania campaign rally, Dimon sent a memo to JPMorgan employees urging Americans to “stand firmly together against any acts of hate, intimidation or violence that seek to undermine our democracy or inflict harm.”
Dimon, who has been leading JPMorgan for two decades, has repeatedly dismissed aspirations to run for office despite ongoing encouragement, including recent praise from Pershing Square CEO Bill Ackman.
“I love my country, and maybe one day I’ll serve my country in one capacity or another,” Dimon told Bloomberg last year. “But I love what I do. I think JPMorgan does a great job helping Americans and countries around the world. This is my job, and I’m quite happy doing it.”