JPMorgan Chase Chairman and CEO Jamie Dimon highlighted several critical issues confronting the United States during the bank’s annual shareholder meeting Tuesday and urged the business community and the Trump administration to come together to find meaningful solutions to these problems.
During Q&A with shareholders, Dimon was asked multiple questions related to his willingness to support President Trump. The CEO is on Trump’s Strategic and Policy Forum.
In the answer to a question related to Trump’s tighter immigration policy, Dimon took a moment to address the elephant in the room that kept coming up.
“He is the President of the United States. I believe he is the pilot flying our airplane,” Dimon said, “I would try to help any President of the United States because I’m a patriot.”
JPMorgan Chase & Co Chief Executive Jamie Dimon devoted one-third of his annual shareholder letter to arguments for changing regulations, particularly those on bank capital and liquidity, as well as home mortgage loan financing.
Current regulations are inconsistent and have left banks with “too much capital,” some of which could be used to “finance the economy without sacrificing safety,” Dimon said in the 17,349-word letter released on Tuesday.
He also warned that anti-trade policies could be disruptive and geopolitical risks are in a “heightened state.”
Stay classy, Jamie…
JPMorgan (JPM) CEO Jamie Dimon says the economy might be getting stronger, but there’s one segment that needs a lift.
“I think if you have a general recovery in the economy, it helps everybody,” he said during an interview with the FOX Business Network’s Maria Bartiromo.
“Everyone complains now middle class incomes aren’t going up enough and very often people say things that are not true,” he said. “This one happens to be true.”
Dimon, living the thug life…
JPMorgan Chase CEO Jamie Dimon says Donald Trump should not be vilified for putting business people in his White House and that the choices provide a “good reset” for how businesses are viewed
After a campaign filled with attacks on the wealthy and powerful, the president-elect has picked three alumni of the powerful financial firm Goldman Sachs, several billionaires and two chief executives of major American companies for his administration. Trump has defended his picks, saying they know how to create jobs.
Dimon, who will head Trump’s Business Roundtable, said in a Bloomberg interview published Thursday that he was “dead wrong” before the election by thinking Wall Street would have a hard time getting into the next administration. He had expected the next president to be Hillary Clinton.Now, he says he is optimistic about Trump’s business-heavy administration.
As recently as September, you thought it would be difficult for people on Wall Street to get into the new administration. Now, President-elect Donald Trump has tapped several Wall Street figures.What do you think they’re going to bring that is different?
Obviously, I was dead wrong about that. I think if you are going to be president, you should have the best people sitting around a table. I think it’s a mistake for the American public to constantly be told that if you work for an oil company or you work for a bank, that automatically makes you bad. I think a lot of these people are very qualified people who are patriots. They’re going to want to help the country. They’re not going to try to help their former company. These are people with deep knowledge that will hopefully do a great job.
Hold off on the balloons and cake for Jamie. He’s off of Trump’s list.
It’s probably safe to say that JPMorgan Chase CEO Jamie Dimon won’t be the treasury secretary after all.
Wall Street has been abuzz for the past two weeks with speculation that the 60-year-old head of the largest U.S. bank by assets would run the Treasury Department for President-elect Donald Trump. CNBC reported on Nov. 10 that advisers close to Trump were suggesting Dimon for the vital Cabinet role.
However, a source speaking to NBC News said a Dimon appointment is not going to happen.
In fact, Trump “doesn’t respect” Dimon, the source said, adding that the bank chief “was never under consideration” for the appointment and was not on “any Trump-approved list.”
That may be just as well considering that the sources who initially spoke to CNBC had indicated Dimon wasn’t interested anyway.
JPMorgan Chase & Co Chief Executive Officer Jamie Dimon did not support Republican Donald Trump’s presidential campaign, yet some Trump advisers want America’s most famous banker to become Treasury Secretary to calm nerves on Wall Street.
A member of Trump’s transition team contacted Dimon recently to see if he would be interested in the role, two people familiar with the matter told Reuters on Thursday.
It was not clear whether Dimon had responded, though he has said emphatically multiple times that he was not interested in the role. JPMorgan spokesman Andrew Gray declined to comment, and Dimon, who is traveling outside the United States, could not be reached.
Trump’s close circle of advisers includes several with Wall Street ties. His campaign finance manager, Steven Mnuchin, is a former Goldman Sachs Group Inc banker. Fundraiser Anthony Scaramucci is a hedge fund executive.
A person familiar with Trump’s personnel efforts said the transition team’s list included Dimon, Mnuchin and Rep. Jeb Hensarling. The person said that Mnuchin was a more likely choice given his proximity to Trump.