Donald Trump has announced plans to sue JPMorgan Chase amid a fervent tirade against the bank’s CEO, Jamie Dimon. The controversy ignited following an article from The Wall Street Journal, which Trump labeled as “fake news.” During his Truth Social outburst, Trump vehemently denied claims that he ever offered Dimon the position of Fed Chairman, stating, “This statement is totally untrue.”
Trump’s primary grievance appears to revolve around JPMorgan Chase’s actions following the January 6th protests, which he insists were justified. He plans to file the lawsuit within the next two weeks, asserting that he was “incorrectly and inappropriately debanked” after the protests. His longstanding frustration with the bank dates back to 2021, when JPMorgan closed accounts linked to him, a move he decried as discriminatory.
The former president took aim at Dimon, asserting that he had never considered him for a role within his administration, including as treasury secretary. Trump’s narrative also noted Dimon’s decision against funding his proposed $400 million ballroom project, highlighting the bank’s cautious approach regarding potential reputational risks due to government contracts.
This latest outburst comes in the wake of Dimon’s recent comments regarding a criminal investigation into Federal Reserve Chair Jerome Powell, which Trump initiated during his time in office. Dimon stated respect for Powell and emphasized the importance of the Federal Reserve’s independence, a sentiment that likely did not sit well with Trump.
Despite their fluctuating relationship, the animosity between Trump and Dimon seems to have reignited, especially with Trump’s ongoing criticisms about financial institutions and their dealings with him. As tensions simmer, the dynamics between high-profile figures like Trump and Dimon continue to illustrate the intersection of business, politics, and media narratives.