Donald Trump is considering appointing JPMorgan Chase chief Jamie Dimon as his next Treasury Secretary. Following a meeting with top U.S. executives, the Republican presidential candidate mentioned in an interview with Bloomberg Businessweek that he respects Dimon and would think about him for the cabinet role.
Despite Trump’s previous threats to fire Federal Reserve Chair Jerome Powell, he stated that he would allow Powell to complete his term, which ends in May 2026, if elected. Trump continues to present himself as a pro-business candidate and has promised to reduce the corporate tax rate to 20% if he returns to the White House. The current corporate tax rate is 21%, lowered from 35% during Trump’s first term.
Trump expressed his ambition to further cut the corporate tax rate to 15% to create strong incentives for businesses. His pledge was well-received by a group of more than 70 CEOs, including Apple’s Tim Cook, Citigroup’s Jane Fraser, Bank of America’s Brian Moynihan, and Wells Fargo’s Charles Scharf.
In a recent memo to JPMorgan employees, Dimon emphasized the importance of unity against hate and violence, referencing an assassination attempt on Trump at a Pennsylvania campaign rally. Dimon, who has led JPMorgan for two decades, has consistently denied political aspirations despite receiving encouragement from figures like Pershing Square CEO Bill Ackman.
While Dimon enjoys his current role, he hasn’t completely dismissed the idea of public service in the future, hinting last year that he might consider it one day. For now, however, he remains committed to his position at JPMorgan, focusing on helping Americans and countries worldwide.