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2025-07-31 09:17:19
Trump and Dimon Resumed Talks After Years of Feud. (1) JPMorgan Chase CEO Jamie Dimon has visited the White House twice in the past two months, signaling a thaw in the long-standing tensions between the head of America's largest bank and President Trump. According to people familiar with the matter, Dimon met with Trump in the Oval Office last week to discuss economic, trade, and financial regulatory issues. These people said Treasury Secretary Scott Bessent and Commerce Secretary Lutnick also attended the meeting. During the meeting, Dimon congratulated Trump on his recent trade deal with Japan. These people said they discussed the persistent shortage of affordable housing and the impact of regulations enacted after the 2008 financial crisis on American homeownership. (2) The two also discussed a topic on which they had publicly disagreed: interest rates. Dimon has been a staunch supporter of Powell and the Federal Reserve's overall independence, and he has stated that political attempts to force interest rates lower often backfire. A person familiar with the matter said that during their meeting last week, Dimon told Trump that if the US economy is strong enough, interest rates could fall. Dimon's comments echoed what Bessant said when he tried to persuade Trump not to fire Powell, according to a previous report by the Wall Street Journal. People familiar with the matter said that in June, Dimon had another meeting with Trump and other officials, including Vice President Vance. According to the Wall Street Journal, Dimon and Trump had not had a substantive conversation for years before these meetings this summer. Over the years, the two have publicly attacked each other many times.
