Jamie Dimon, CEO of JPMorgan Chase, JPM, has been secretly advising Donald Trump on policy matters for months, focusing on economic issues like spending cuts, banking regulations, taxes, and trade, even though he did not publicly endorse Trump

Jamie Dimon, CEO of JPMorgan Chase, $JPM, has been secretly advising Donald Trump on policy matters for months, focusing on economic issues like spending cuts, banking regulations, taxes, and trade, even though he did not publicly endorse Trump.

The 68-year-old Wall Street powerhouse, Jamie Dimon—who, like 78-year-old Donald Trump, hails from Queens, New York—has been acting as a “sounding board” for Trump’s economic plans, according to four sources familiar with the president-elect’s transition team.

Dimon’s Private Conversations with Trump

Sources say Dimon, the longtime CEO of JPMorgan Chase, has held a series of candid discussions with Trump’s inner circle. These “no-holds-barred” exchanges reportedly covered topics like government spending cuts, banking regulation, taxes, and trade.

“They’ve been speaking regularly for months,” said one Republican insider, adding that the calls were initiated by Trump’s top aides. The intention was to keep the talks discreet and prevent leaks, according to a company insider. Despite the secrecy, the relationship between the two has grown stronger over time.

A spokesperson for Trump’s transition team and a JPMorgan representative declined to comment on the matter.

Trump’s Admiration for Dimon

Trump has long expressed admiration for Dimon, with one source characterizing it as a “man crush.” Despite Trump publicly floating Dimon’s name as a potential Treasury Secretary in June, the banker, a registered Democrat, never endorsed Trump nor publicly supported any candidate during the election.

Trump’s fondness for Dimon persisted even after occasional tensions. For instance, after Trump declared on Truth Social that Dimon “will not be invited” to join his Cabinet, Dimon retorted, “I haven’t had a boss in 25 years, and I’m not about to start now.”

Dimon’s Pragmatic Stance

Though Dimon reportedly considered joining a potential Kamala Harris administration early on, he ruled out leaving JPMorgan when her poll numbers faltered. Dimon’s balanced comments on political matters have occasionally aligned with Trump’s views. For example, in January, Dimon told CNBC that Trump was “kind of right” in criticizing illegal immigration and NATO defense spending—remarks Trump “greatly appreciated.”

Dimon has also supported using tariff threats strategically. At a recent conference in Peru, he remarked that such measures “will bring people to the table” if employed “wisely.” However, his criticisms of overregulation have made him a controversial figure in Democratic circles, leading to strained relations with the Biden administration.

Regulatory Criticisms

Dimon, a vocal opponent of excessive banking regulations, has recently intensified his critiques. At a New York conference, he lambasted what he called an “onslaught” of red tape, including capital requirements designed to fortify banks against financial crises.

“It’s time to fight back... I’ve had it with this s**t,” Dimon reportedly told the audience, targeting regulations he believes stifle banking operations.

Continuing Influence

As Trump prepares to take office, Dimon’s influence on the president-elect’s economic policies underscores the unique dynamic between Wall Street’s elite and the incoming administration. While Dimon may have ruled out a formal government role, his ongoing dialogue with Trump suggests he will remain a significant voice in shaping U.S. economic policy.