JP Morgan Chase CEO Jamie Dimon meets Donald Trump: Here’s what the two discussed
JP Morgan Chase CEO Jamie Dimon visited the White House last week, reports The Wall Street Journal. The meeting, twice in the past two months, signals a change in his long-strained relationship with President Donald Trump. Quoting people familiar with the matter, the report says that Dimon and Trump talked about the economy, trade, and financial regulation. Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick were also present, the report stated. During the meeting, Dimon also congratulated Trump on his recent trade agreement with Japan. The group also discussed the ongoing issue of affordable housing and how financial regulations introduced after the 2008 crisis have impacted homeownership in the U.S.
Disagreement on interest rates addressed
According to reports, one of the key topics of discussion between the two was interest rates. Trump has repeatedly criticized Federal Reserve Chair Jerome Powell and even threatened to remove him. Dimon, on the other hand, has supported Powell and the Fed’s independence. During the meeting last week, Dimon reportedly told Trump that interest rates could go down if the economy remains strong. This also aligns with what Treasury Secretary Bessent has previously advised the president, as reported by The Wall Street Journal.Last month, Jamie Dimon also met with Trump, along with Vice President JD Vance and other officials. These recent meetings marked the first time in years that Dimon and Trump have had meaningful conversations. Previously, they had exchanged public criticisms on several occasions.
Past tensions between Donald Trump and Jamie Dimon
Jamie Dimon was one of the business leaders who stepped away from a presidential council after Trump’s remarks about the 2017 racial violence in Charlottesville. He also called Trump’s efforts to overturn the 2020 election results “almost treasonous.”In 2023, Trump referred to Dimon as “highly overrated” after the banker showed support for Republican candidate Nikki Haley. Trump also accused JPMorgan of being biased against conservatives.Despite their past, Dimon has recently taken a more neutral tone. He has described himself as a patriot who puts the nation before politics or his company.
