Why Trump slammed JPMorgan CEO and threatened to sue bank
What's the story
US President Donald Trump has lashed out at Jamie Dimon, the CEO of JPMorgan Chase & Co. The attack came after a Wall Street Journal story suggested that Trump offered Dimon the position of US Federal Reserve chairman, which Dimon interpreted as a joke. In a post on Truth Social, Trump refuted these claims and announced plans to sue JPMorgan for debanking him after the January 6 Capitol riot in 2021.
Job offer denial
Trump denies offering Dimon Treasury Secretary position
Along with denying the Fed chair offer, Trump also addressed rumors of Dimon's interest in the Treasury Secretary position. He said no such offer was made or even considered. "The problem is, I have Scott Bessent doing a fantastic job, A SUPERSTAR—Why would I give it to Jamie? No such offer was made there, or even thought of either," Trump wrote on Truth Social.
Election allegations
Trump reiterates claims of rigged 2020 elections
In his post, Trump also reiterated his claim that the 2020 US Presidential elections were rigged. He described the Capitol riot as "a protest that turned out to be correct." However, he did not elaborate on JPMorgan's alleged actions or his potential legal response. This isn't the first time Trump has accused JPMorgan of debanking him; he had made similar allegations in August last year.
Job clarification
Dimon clarifies he wasn't offered any job
Responding to Trump's claims, Dimon clarified through an emailed statement that he had not been offered any jobs by the administration. He said, "I have enormous respect for Secretary Bessent and think he's doing an excellent job for our country, better than I could have." Earlier this month, at a US Chamber of Commerce event, Dimon had also ruled out taking up the role of Fed chair.
Support statement
JPMorgan supports political debanking efforts
Responding to Trump's claims, a spokesperson for JPMorgan said they agree that no one's account should be closed due to political or religious beliefs. "We appreciated that this administration has moved to address political debanking and we support those efforts," the spokesperson added. Notably, Trump has yet to announce his choice for the outgoing Fed Chair Jerome Powell's replacement whose term ends in May 2026.