During the 2024 campaign, JPMorgan CEO Jamie Dimon was nominated for Treasury Secretary by the president, but their relationship has since deteriorated. In August, Trump lashed out at Dimon’s bank, as well as Bank of America, accusing them of discriminating against him in recent years.
Earlier in 2025, the Trump Organization continued Capital Oneaccusing the bank of inappropriately cutting off access to the company, founded by the president’s late father and run by Trump himself before he entered politics, following the attack on the Capitol.
The president also disputed a Wall Street Journal report that he offered Dimon the job of Federal Reserve chairman. “A front-page article in the Wall Street Journal’s Fake News states, without verification, that I have offered Jamie Dimon of JPMorgan Chase the position of Fed chairman. This statement is completely false; there has never been such an offer,” Trump wrote in his Truth Social article.
“Why wouldn’t the Wall Street Journal have called me and asked if such an offer had been made or not? I would have quickly told them ‘NO’ and that would have been the end of the story,” Trump added in his message. “Why should I give it to Jamie? No such offer was made there, or even considered. The Wall Street Journal should do better fact-checking, or its already strained credibility will continue to DIVE.”
Trump appeared to point to a Journal article published Wednesday, which reported that Trump had offered Dimon the role earlier last year. Dimon took it as a joke, according to the Journal, citing people briefed on the discussion.
Dimon, asked in a Bloomberg interview published Thursday whether he would accept the role, replied: “Absolutely, absolutely no chance, no way, no way, for any reason.”
Trump repeatedly lashed out at Dimon, dismissing his warnings that the Justice Department’s criminal investigation into Fed Chairman Jerome Powell, for whom the bank’s CEO said he had “tremendous respect,” could threaten the central bank’s independence. Tensions further escalated when JPMorgan publicly opposed Trump’s proposal to cap credit card interest rates, with bank executives warning the move would reduce credit and harm consumers.
“It would be very bad for consumers, very bad for the economy,” JPMorgan Chief Financial Officer Jeremy Barnum told reporters during the bank’s earnings conference call last Tuesday.
