Jamie Dimon’s nearly two decades at the helm of JPMorgan have put him in a role with enormous political power. But the usually outspoken billionaire is being very vague about the election.
When Jamie Dimon surprised the political and financial elite early this year by praising some of Donald Trump’s policies, the longtime Democrat set off speculation that he had switched his allegiance to the Republican candidate.
Both the Trump and Harris campaigns have sought Dimon’s public support, and Trump once — falsely — declared that he had it. But for a man who has been eager to weigh in on virtually any topic — Ukraine, inequality, immigration — Dimon’s silence reflects a discomfort with the idea of staking out a public position on a contentious issue, people close to him say.His quiet has been noticed in Washington and on Wall Street, where his every utterance is tracked.
As JPMorgan’s head, Dimon regularly meets with world leaders and exerts a pull over regulations and policymaking. He led the rescue of two huge banks during the 2008 financial crisis and made an encore performance last year, banding together with Treasury Secretary Janet Yellen to stave off trouble after the collapse of Silicon Valley Bank.
He has also flirted with the idea of running for office himself, discussing it with JPMorgan subordinates and family members, according to two people who relayed the details of such chats. The blowback was fierce. Left-leaning opinion columnists, political pundits and fellow financiers alike accused him of giving cover to Trump. Dimon felt trapped and hurt, he told associates, to be tied with the Trump agenda. He tried to walk back the statement by saying it reflected his respect for Trump’s voters, but the impression stuck.JPMorgan’s spokesperson said that Dimon was disappointed when the Davos comments were deployed by political campaigns without “the appropriate context.
And so Dimon stayed silent throughout the spring, summer and fall, until Trump, in a post to his Truth Social platform this month, falsely claimed that Dimon had endorsed him. Dimon — who hasn’t spoken directly to Trump in three years — publicly denied the assertion.
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