Jamie Dimon Rejects Trump Endorsement Claim, Casting Doubt On Treasury Rumors

JPMorgan Chase & Co. JPM CEO Jamie Dimon is unlikely to be tapped as Donald Trump's treasury secretary if Trump wins the 2024 election, following JPMorgan's outright denial of an endorsement.

What Happened: Dimon has not endorsed Trump for president, a fact made clear by a JPMorgan spokesperson, who said, "Jamie Dimon has not endorsed anyone," CNBC reports. This statement comes after Trump posted on his Truth Social account, falsely claiming Dimon had backed his candidacy.

Dimon's refusal to endorse Trump, combined with the former president's history of requiring loyalty from his cabinet picks, casts doubt on whether Dimon would be considered for the role of treasury secretary, a position that has been widely speculated.

According to CNBC, Dimon previously indicated he is "not endorsing anyone at this time," distancing himself from political allegiances. Trump has yet to clarify whether Dimon remains a serious contender for the Treasury post.

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Why It Matters: Trump previously floated the idea of naming Dimon as treasury secretary during a June interview with Bloomberg, despite past tensions between the two. Dimon's lack of an endorsement now raises questions about the likelihood of that appointment.

In the past, many of Trump's cabinet members, including Treasury Secretary Steve Mnuchin, publicly supported him before taking office. Dimon's neutral stance appears to conflict with Trump's preference for loyalists.

Trump's consideration of Dimon for treasury secretary was seen as a pragmatic move, given Dimon's leadership at JPMorgan and stature in the financial world. However, without an endorsement, it is unlikely Trump would select him for a top cabinet role, particularly one as critical as treasury secretary.

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Photo: Benzinga file photo by Dustin Blitchok