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Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for

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'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down

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The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow

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Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for

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'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down

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The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow
PoliticsDonald Trump

Jamie Dimon hasn’t had recent talks with Donald Trump, source says, denying report of back-channel communications

Jason Ma
By
Jason Ma
Jason Ma
Weekend Editor
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Jason Ma
By
Jason Ma
Jason Ma
Weekend Editor
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November 30, 2024, 1:18 PM ET
Jamie Dimon and Donald Trump
Jamie Dimon and Donald Trump at the White House in 2017.Andrew Harrer—Bloomberg/Getty Images
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Jamie Dimon hasn’t spoken with Donald Trump for at least the last several months, a source close to the JPMorgan CEO told Fortune.

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A report Friday in the New York Post, which said the two have been in communication for months via secret back channels, is not accurate, according to the source.

The Trump transition team didn’t immediately respond to a request for comment.

Sources close to Trump told the Post that conversations began before the election and continued afterward, focusing on plans for spending cuts, bank regulation, taxes, and trade.

Earlier this month, Trump ruled out a role for Dimon in his administration amid speculation that the Wall Street giant could be considered for Treasury secretary.

“I respect Jamie Dimon, of JPMorgan Chase, greatly, but he will not be invited to be a part of the Trump Administration. I thank Jamie for his outstanding service to our Country!” Trump wrote on his social media platform, Truth Social, on Nov. 14.

During a conference later that day, Dimon responded that he had no interest in serving in the Trump administration, noting, “I haven’t had a boss in 25 years, and I’m not about ready to start.”

That came a month after Trump’s Truth Social account posted a screenshot falsely claiming Dimon endorsed him for president, prompting JPMorgan to flatly deny it. Trump later said he didn’t know anything about the post, explaining that someone else put it up.

Dimon didn’t endorse either Trump or Kamala Harris in the presidential election, though his wife campaigned for Harris.

Still, the president-elect’s supporters have pointed to some favorable remarks from Dimon, such as his praise in January, when he said Trump was “kind of right about NATO, kind of right on immigration. He grew the economy quite well. Trade tax reform worked. He was right about some of China.”

Dimon also said earlier this month that Trump is not against trade, adding that his tariff plans will “get people to the table.”

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
About the Author
Jason Ma
By Jason MaWeekend Editor

Jason Ma is the weekend editor at Fortune, where he covers markets, the economy, finance, and housing.

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