JPMorgan CEO Secretly Aids Trump’s Political Agenda - Report

According to a report citing sources close to Donald Trump's transition team, JPMorgan Chase (NYSE:JPM) CEO Jamie Dimon has been in secret communication with the president-elect and has been providing advice on policy agendas both before and after the election victory. Sources indicate that Dimon serves as a sounding board for Trump's economic plans, discussing topics such as public spending, banking regulations, taxes, and trade.

Despite Dimon's cautious approach to politics and past tensions, discussions are ongoing. A public discussion on November 14 made it clear that Trump would not invite Dimon to his cabinet. Reports suggest that Trump’s team initiated these discussions to maintain some distance and confidentiality.

Dimon, a registered Democrat who has not openly supported any candidate in the presidential race, has been with JPMorgan Chase for nearly twenty years and is a vocal critic of the current U.S. banking regulations. He has expressed his discontent with the regulatory environment, particularly targeting the Basel III rules during a conference in New York.

Trump is also consulting with other financial leaders, such as BlackRock CEO Larry Fink, indicating a broader strategy of seeking recommendations from influential figures in the financial sector. This approach appears to be part of Trump’s preparations for his term starting on January 20, as he gathers his team at the Mar-a-Lago resort.

The ongoing dialogue between Trump and Dimon, along with Trump’s consultations with other Wall Street executives, demonstrates the new administration's openness to input from the financial industry as policies take shape.