Trump has threatened to file a lawsuit against JP Morgan.
US President Donald Trump lashed out at JPMorgan Chase & Co and its chief Jamie Dimon and threatened to sue the bank over claims that his accounts were closed after the riots in Capitol Hill on January 6, 2021. In a post on Saturday, Trump responded to a Wall Street Journal report that Trump had offered Dimon the post of Federal Reserve chief a few months earlier, which Dimon thought was a joke. Trump wrote that no such offer was ever made and, in fact, I will be suing JPMorgan Chase within the next two weeks for wrongfully and improperly closing my account following the January 6 protests. He did not give any further information about this.
Trump had alleged
Trump claimed in August that JPMorgan “extremely discriminated” against him when he alleged that the bank had asked him to close decades-old accounts. They believe the action was linked to his supporters storming Capitol Hill to stop the certification of President Joe Biden’s victory in 2021. The bank later said it was facing reviews, investigations and legal proceedings related to the Trump administration’s campaign against “debanking”.
JPMorgan spokeswoman Trish Wexler said in an emailed statement that we agree that no one’s account should be closed based on political or religious beliefs. He further said that we appreciate the steps taken by this administration to deal with the problem of politically motivated banking closures and support these efforts.
Dimon said, no idea
Dimon said earlier this week that he would not consider the post of Fed Chairman. Asked about taking over the central bank at a US Chamber of Commerce event on Thursday, Dimon said, “I don’t see any possibility at all, under any circumstances, for any reason, for the post of Fed Chairman.” Regarding the post of head of the treasury department, he said that I will take a decision on it. Dimon said in an emailed statement that he had not received any job offer and added that “I have great respect for Secretary Besant and I think she is doing an excellent job for our country – even better than I am.” Dimon was referring to Finance Secretary Scott Besant.
Who is Powell’s successor?
Trump has not yet said who he will nominate to succeed Fed Chairman Jerome Powell, whose term ends in May. Trump said on Friday that he had a candidate in mind, but he refused to reveal his name. Dimon’s comments come after a public debate between Dimon and Trump earlier this week. The debate focused on a number of issues, including the criminal subpoena issued by the Justice Department regarding the President’s renovation of the Fed’s headquarters. Dimon said Tuesday that weakening the Fed’s independence is “not a good idea” and could lead to higher inflation and interest rates over time.