{"id":19649,"date":"2024-11-29T15:54:35","date_gmt":"2024-11-29T15:54:35","guid":{"rendered":"https:\/\/gpt.m2mbeta.com\/?p=19649"},"modified":"2024-11-29T15:54:35","modified_gmt":"2024-11-29T15:54:35","slug":"jamie-dimon-has-been-secretly-communicating-with-donald-trump-on-white-house-agenda-for-months-sources","status":"publish","type":"post","link":"https:\/\/gpt.m2mbeta.com\/?p=19649","title":{"rendered":"Jamie Dimon has been secretly communicating with Donald Trump on White House agenda for months: sources"},"content":{"rendered":"<div>\n<p><a href=\"https:\/\/nypost.com\/2024\/08\/02\/business\/jp-morgans-jamie-dimon-urges-next-president-not-to-cater-to-extremes-in-dig-at-donald-trump\/\">JPMorgan Chase CEO Jamie Dimon<\/a> has been communicating with Donald Trump in recent months through secret back channels, helping the president-elect hammer out a policy agenda before and since his decisive White House victory, The Post has learned.<\/p>\n<p>The 68-year-old Wall Street titan \u2014 who, like 78-year-old Trump, grew up in Queens in New York City \u2014 has acted as \u201ca sounding board\u201d for the incoming <a href=\"https:\/\/nypost.com\/2024\/11\/10\/us-news\/donald-trump-wins-most-popular-votes-by-a-republican-ever\/\">commander-in-chief\u2019s economic manifesto<\/a>, four sources close to Trump\u2019s transition team said.<\/p>\n<figure class=\"nyp-slideshow-modal-image wp-block-image aligncenter size-large\"><figcaption>Dimon had a direct route into Trump\u2019s top team \u2013 even as he was flirting with the idea of joining a potential Kamala Harris administration. <span class=\"credit\">Bloomberg via Getty Images<\/span><\/figcaption><\/figure>\n<p>One GOP insider said the president-elect\u2019s inner circle held a series of \u201cno-holds-barred conversations\u201d with Dimon \u2014 who at the time was rumored to be eyeing a government job himself. <\/p>\n<p>\u201cThey have been speaking regularly for months,\u201d said another GOP source briefed on the situation.<\/p>\n<p>Three of the sources close to Trump said the secret back channel focused on plans for cutting government spending, banking regulation, taxes and trade.<\/p>\n<aside class=\"single__inline-module aligncenter wp-block-nypost-editor-primary-tag\">\n<\/aside>\n<p>A company insider added that Trump\u2019s top aides set up the calls, which continued after the election, to \u201ccreate a bit of daylight\u201d between the two men and stop details of the exchanges leaking.<\/p>\n<p>A spokesperson for the Trump transition team declined to comment. A JPMorgan spokesman also declined to comment.<\/p>\n<p>The quietly cozy relationship between Trump and Dimon has flourished despite the banker\u2019s cryptic and tight-lipped tendencies when it comes to politics. Trump had floated Dimon\u2019s name as a possible Treasury secretary pick in June and later claimed he had won his White House endorsement \u2014 despite a lack of any public statement from Dimon to that effect.<\/p>\n<p>Trump and Dimon also have continued to talk despite bouts of tension, including on Nov. 14 when the president-elect declared on Truth Social that <a href=\"https:\/\/nypost.com\/2024\/11\/14\/business\/trump-slams-door-on-jamie-dimon-joining-administration-will-not-be-invited\/\">Dimon \u201dwill not be invited\u201d to join his Cabinet.<\/a> The banker promptly shot back: \u201cI haven\u2019t had a boss in 25 years and I\u2019m not about ready to start.\u201d<\/p>\n<figure class=\"nyp-slideshow-modal-image wp-block-image aligncenter size-large\"><figcaption>Trump is known to be a long-standing admirer of the JPMorgan CEO that one source familiar with the matter likened to \u201ca man crush.\u201d <span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>The JPMorgan CEO, a registered Democrat who declined to back either candidate in the White House race, had even reportedly toyed with the idea of joining a Kamala Harris administration but then ruled himself out of <a href=\"https:\/\/nypost.com\/2024\/10\/11\/business\/jamie-dimon-dishes-on-possibility-of-taking-us-government-post\/\">leaving the Wall Street giant when her poll numbers tanked<\/a>, The Post previously reported.<\/p>\n<p>On Nov. 22, The Post broke the news that Trump was also consulting with Blackrock CEO <a href=\"https:\/\/nypost.com\/2024\/11\/22\/business\/larry-fink-could-have-trumps-ear-no-matter-who-gets-treasury-job\/\">Larry Fink, a major Dem donor, on policy issues.<\/a><\/p>\n<p>Nevertheless, the former\u201d Apprentice\u201d star\u2019s admiration of Dimon, who has helmed JPMorgan Chase for nearly two decades and has a net worth estimated by Forbes at $2.6 billion, was described by one source as \u201ca man crush.\u201d<\/p>\n<p>Another individual close to the president-elect said Trump \u201cgreatly appreciated\u201d it when Dimon, <a href=\"https:\/\/nypost.com\/2024\/04\/26\/business\/jamie-dimon-starts-each-morning-reading-the-new-york-post\/\">an avid reader of the New York Post<\/a>, told CNBC in January the eventual election winner was \u201ckind of right\u201d to criticize illegal immigration and weak defense spending by America\u2019s NATO allies.<\/p>\n<figure class=\"nyp-slideshow-modal-image wp-block-image aligncenter size-large\"><figcaption>At a recent conference in Peru, Dimon said that Trump\u201ds tariff threats could help bring US trading partners to the table if used \u201cwisely\u201d. <span class=\"credit\">Bloomberg via Getty Images<\/span><\/figcaption><\/figure>\n<p>Dimon\u2019s comments angered left-wingers within the Biden administration who then blacklisted Dimon from the White House in a fit of pique, <a href=\"https:\/\/nypost.com\/2024\/02\/09\/news\/white-house-fury-at-chase-ceo-jamie-dimon-for-backing-maga\/\">as The Post exclusively reported.<\/a><\/p>\n<p>Two weeks ago, the JPMorgan boss said Trump\u2019s threat of slapping tariffs on Uncle Sam\u2019s major trading partners \u201cwill bring people to the table\u201d if \u201cdone wisely.\u201d<\/p>\n<p>Dimon, a vocal critic of current US banking rules, recently slammed the \u2018onslaught\u2019 of red tape drafted by Dem-backed regulators, <a href=\"https:\/\/nypost.com\/2024\/10\/28\/business\/jpmorgans-dimon-slams-biden-harris-admin-ive-had-it-with-this-s\/\">launching a foul-mouthed tirade<\/a> over a list of his most-hated pieces of legislation at a recent conference in New York, <\/p>\n<p>\u201cIt\u2019s time to fight back\u2026I\u2019ve had it with this s\u2013t,\u201d Dimon told the stunned audience.<\/p>\n<p>The JPMorgan boss <a href=\"https:\/\/nypost.com\/2024\/11\/15\/business\/jpmorgans-jamie-dimon-says-bankers-dancing-in-the-street-on-trump-win\/\">singled out regulations<\/a> aimed at keeping banks resistant to financial storms by forcing them to hold more capital on their balance sheets. The proposal, known as Basel III, would see major lenders raise that emergency buffer by 9%.<\/p>\n<figure class=\"nyp-slideshow-modal-image wp-block-image aligncenter size-large\"><figcaption>Trump, seen here with First Lady Melania Trump at Mar-a-Lago in 2018, has been holed up in his private members club since Nov. 5 nominating senior officials to join his new administration.  <span class=\"credit\">AP<\/span><\/figcaption><\/figure>\n<p>\u201cThings are becoming unfair and unjust, and they are hurting companies, a lot of these rules are hurting lower-paid individuals,\u201d Dimon said on Oct. 28.<\/p>\n<p>Dimon, who pulled down a salary of $34.5 million last year, urged the US government in his annual letter to shareholders last May to deliver \u201ceffective policy-making\u201d issuing a warning that \u201ca politician\u2019s dream is a businessman\u2019s nightmare.\u201d<\/p>\n<p>Wells Fargo analyst Mike Mayo said Trump\u2019s second term as president will present \u201cthe biggest inflection point for banking regulation in three decades.\u201d<\/p>\n<p>\u201cThis is Jamie\u2019s vindication,\u201d Mayo told The Post. \u201cHe is looking at all the bureaucracy and red tape and saying enough of the regulatory theater. It\u2019s like banking with one hand tied behind your back\u201d<\/p>\n<figure class=\"nyp-slideshow-modal-image wp-block-image aligncenter size-large\"><figcaption>Scott Bessent was the top hedge funder eventually named by Trump to lead the Treasury Department after a bitter \u201cknife fight\u201d with Howard Lutnick, one of his main rivals for the job who ended up as Commerce Secretary.  <span class=\"credit\">Bloomberg via Getty Images<\/span><\/figcaption><\/figure>\n<p>Mayo added that Trump potentially taking an ax to stringent banking rules \u201cshould mean borrowers get better rates for their loans and better services for customers.\u201d<\/p>\n<p>The top analyst said: \u201cIt would be foolhardy for any administration not to hear Jamie Dimon out. Everyone should at least be consulting him for ideas.\u201d<\/p>\n<p>The revelations that Trump has sought advice from a \u201ckitchen cabinet\u201d of Wall Street bigwigs comes after his appointment of staunch loyalist and <a href=\"https:\/\/nypost.com\/2024\/11\/22\/business\/donald-trump-taps-scott-bessent-as-treasury-secretary\/\">hedge fund mogul Scott Bessent as Treasury Secretary.<\/a><\/p>\n<p>He has been hunkered down at his Mar-a-Lago resort in Palm Beach <a href=\"https:\/\/nypost.com\/2024\/11\/19\/us-news\/trump-to-pick-transition-team-co-chair-howard-lutnick-for-commerce-secretary-source\/\">building his team for his new administration.<\/a><\/p>\n<p>Trump\u2019s move to seek informal counsel from titans of American finance, who are outside his MAGA inner circle, could provide further reassurance to investors ahead of his second term in the White House that kicks off on Jan. 20.<\/p>\n<\/p><\/div>\n<p><\/p>\n<hr style=\"border-top: 2px solid #ccc; margin-top: 20px;\">\n<p><em>Source: <\/em> <em><a href=\"https:\/\/politics.einnews.com\/article\/764840472\/5pvIfNzKvV_D9sDQ?ref=rss&amp;ecode=kmfm9fDbRbj4OPCJ\">politics.einnews.com\u2026<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>JPMorgan Chase CEO Jamie Dimon has been communicating with Donald Trump in recent months through secret back channels, helping the president-elect hammer out a policy agenda before and since his decisive White House victory, The Post has learned. The 68-year-old Wall Street titan \u2014 who, like 78-year-old Trump, grew up in Queens in New York [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-19649","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/gpt.m2mbeta.com\/index.php?rest_route=\/wp\/v2\/posts\/19649","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gpt.m2mbeta.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gpt.m2mbeta.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gpt.m2mbeta.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gpt.m2mbeta.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19649"}],"version-history":[{"count":0,"href":"https:\/\/gpt.m2mbeta.com\/index.php?rest_route=\/wp\/v2\/posts\/19649\/revisions"}],"wp:attachment":[{"href":"https:\/\/gpt.m2mbeta.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19649"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gpt.m2mbeta.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19649"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gpt.m2mbeta.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19649"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}