President Donald Trump strongly opposes JPMorgan Chase & Co. and its leader Jamie Dimon have threatened to sue the banking giant over claims he was stripped of his bank account following the Jan. 6, 2021, Capitol riot.
in a postal On Saturday, Trump responded to a Wall Street Journal report that Dimon had been dismissed as a joke by Trump when he offered him the Fed chairmanship months ago.
“There was never such an offer, and in fact, I will be suing JPMorgan Chase within the next two weeks for wrongfully and improperly deactivating my bank account following the protests on January 6th,” Trump wrote.
He did not elaborate. JPMorgan did not immediately respond to a request for comment over the weekend.
Trump claimed in August that JPMorgan Chase “discriminated against me very seriously,” claiming the bank asked him to close accounts he had held for decades, an action he linked to the storming of the Capitol by his supporters to stop the certification of President Joe Biden’s victory in 2021. The bank later said it was facing scrutiny, investigations and legal action related to the Trump administration’s crackdown on “debanking.”
Dimon said earlier this week that he would not consider serving as Fed chairman.
At a U.S. Chamber of Commerce event on Thursday, Dimon said in response to a question about whether he would consider taking over the Fed, “There is absolutely, absolutely no chance, no way, no way for me as Fed chairman, for whatever reason.”
As for running the Treasury, “I’ll answer the call,” he said.
Trump has not yet said who he will nominate to replace Fed Chairman Jerome Powell, whose term ends in May. Trump said on Friday he had a choice in mind but declined to name it.
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Dimon’s comments came after Dimon and Trump sparred publicly earlier this week over the president’s attacks on the Fed, including the Justice Department’s criminal subpoena over renovations to the Fed’s headquarters. Dimon said on Tuesday that reducing the Fed’s independence “is not a good idea” and could lead to higher inflation and interest rates over time.
Dimon has in the past dismissed attempts by Trump allies to suggest the bank’s client decisions were biased.
“We’re not going to take away people’s religious or political beliefs,” Dimon told fox Do business in December.