Banking giant JPMorgan Chase & Co.’s (NYSE:JPM) CEO, Jamie Dimon, firmly ruled out any possibility of leading the Federal Reserve in the near future, but is open to serving as the Secretary of the Treasury, if asked by the President.
Dimon Might Consider Treasury Secretary Role
Dimon said there was “positively no chance” that he would serve as the Chairman of the Federal Reserve, even if he were asked by “a President” of the U.S., in an interview with Bloomberg’s David Rubenstein on Thursday.
While the nation’s most prominent banking executive dismissed any prospect of leading the Federal Reserve, he left the door open to a senior Cabinet role, saying he would consider serving as “Secretary of the Treasury” if asked by the President.
“If a President calls you up and asks you to do something, you should consider it,” Dimon said. “So I would take the call and consider it, and think about why and what they want.”
According to Dimon, the nature and structure of any such future role would play an important role in his consideration. “What they want and how they want to operate, that would be important to me,” he said. However, he added that he loves his current job, saying, “I’ve been my own boss for pretty much 25 years, and I like it that way.”
The JPMorgan chief recalled being confronted publicly with rumors about a Cabinet post while attending the APEC meeting in Peru.
As he was preparing to appear on stage, a reporter told him that President Donald Trump had praised him on social media but indicated he would not be chosen as Treasury secretary.
“She asked me on national TV,” Dimon said. “So I said, that’s good, because I like being my own boss. We both like it that way.”
Trump Has Decided On The Next Fed Chair
According to recent reports, Trump has already settled on his choice for the next Federal Reserve chair to succeed Jerome Powell when his term ends in May 2026, though the decision has not yet been made public.
Kalshi prediction markets show Director of the National Economic Council, Kevin Hassett and former Federal Reserve Governor Kevin Warsh as the frontrunners, with odds of 36% and 44%, respectively.
Treasury Secretary Scott Bessent told the media recently that Trump was going to finalize his pick to lead the central bank and would be announcing the same this month.
Photo Courtesy: Lev Radin on Shutterstock.com
Recent Comments