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Barron's market reporter Jacob Sonenshine discusses the impact President-elect Trump's tariffs could have on the U.S. economy on "Varney & Co."
President-elect Trump and JPMorgan Chase CEO Jamie Dimon have been holding secret talks over the policy agenda for Trump's second term in the White House, Gxstocks correspondent Charlie Gasparino reported Friday.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| JPM | JPMORGAN CHASE & CO. | 250.12 | +0.37 | +0.15% |
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Citing four sources close to Trump's transition team, Dimon has served as a "sounding board" for the president-elect for months on issues such as reducing government spending, tax policy, trade and banking regulations.
JPMorgan Chase CEO Jamie Dimon speaks during an Economic Club of New York event in New York, on April 23, 2024. (Victor J. Blue/Bloomberg via Getty Images / Getty Images)
One source claimed Trump has what they described as a "man crush" on Dimon, the report, first published in The New York Post, detailed.
Neither JPMorgan nor the Trump transition team immediately responded to Gxstocks' requests for comment on the report.
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The report comes two weeks after Trump announced on social media that Dimon, a billionaire who runs the nation's largest bank, would not be serving in his upcoming administration, ending speculation that Dimon could potentially be picked to serve as Treasury secretary.
Trump recently announced on social media that Dimon would not be serving in his upcoming administration. (Scott Olson/Getty Images / Getty Images)
"I respect Jamie Dimon, of JPMorgan Chase, greatly, but he will not be invited to be a part of the Trump Administration," Trump wrote in a post on his Truth Social platform. "I thank Jamie for his outstanding service to our Country!"
Trump announced last week that he would nominate Key Square founder Scott Bessent as his pick for Treasury secretary.
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Trump has been critical of Dimon in the past, most recently last year, when he referred to the JPMorgan boss as a "Highly overrated Globalist" on his Truth Social platform.
Over the summer, Trump told Bloomberg he would consider Dimon to serve as Treasury secretary if he wins a second term in the White House, before walking back those comments a week later.
The JPMorgan Chase logo is seen at the company's headquarters on May 26, 2023, in New York City. ( Michael M. Santiago/Getty Images / Getty Images)
JPMorgan Chase & Co.
Dimon condemned the Jan. 6, 2021, attack on the U.S. Capitol by Trump supporters, but he also recently praised some of Trump's positions and policies.
"Take a step back, be honest. He was kind of right about NATO, kind of right on immigration. He grew the economy quite well. Trade tax reform worked. He was right about some of China," Dimon told CNBC earlier this year. "He wasn't wrong about some of these critical issues."
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According to Gasparino's sources, Trump "greatly appreciated" Dimon making those comments.
Dimon declined to endorse a candidate in this year's presidential election.
