Hours after U.S. President Donald Trump denied a report claiming he offered Dimon the position, JPMorgan CEO Jamie Dimon said on Saturday that he was not invited to serve as chair of the Federal Reserve.
The Wall Street Journal reported earlier this week that Trump had proposed Dimon as the chair of the Federal Reserve, but the news outlet also noted that the JPMorgan CEO dismissed the proposal as a joke. Trump refuted that news in a Truth Social post on Saturday, and JPMorgan subsequently confirmed the president's claim.
"There was no job offer," Dimon stated in a statement. Bank representative Trish Wexler told Reuters via email that she ought to have been "more vigilant" in making corrections to the Wall Street Journal article prior to its publication.
On Saturday, Trump also announced that he intends to sue JPMorgan within the next two weeks for allegedly "debanking" him after his followers attacked the U.S. Capitol on January 6, 2021.
The bank would not talk about individual customers, according to Wexler, but it feels "that no one's account should be closed because of political or religious beliefs."
"We appreciate that this Administration has moved to address political debanking and we support those efforts," Wexler stated. One of the most powerful people on Wall Street, Dimon, has expressed opposition to certain initiatives of the Trump administration.
Days after the Justice Department launched a criminal investigation against current Fed Chair Jerome Powell, whose term ends in May, Dimon earlier this week expressed support for the Fed's independence.
The Trump administration's planned 10% restriction on credit card interest rates has also drawn criticism from Dimon and other JPMorgan executives, who claim it would prevent millions of people from obtaining credit.
In an interview with Reuters on Wednesday, Trump hinted that he was considering replacing Powell with either former Fed Governor Kevin Warsh or White House economic adviser Kevin Hassett.
