Jamie Dimon Meets Trump Twice, Signs of Improved Relations

Washington, D.C. — JPMorgan Chase Chief Executive Jamie Dimon visited the White House twice in the past two months, marking a shift in the dynamic between him and President Trump. These meetings come after years of tension between the head of America’s largest bank and the president.

Last week, Dimon met with Trump in the Oval Office, where they discussed key issues such as the economy, trade, and financial regulation. Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick also attended the significant discussion.

During the meeting, Dimon congratulated Trump on his recent trade deal with Japan. The two leaders focused on the ongoing shortage of affordable housing and how regulations following the 2008 financial crisis have affected American homeownership, according to sources familiar with the discussions.

They also addressed a contentious issue: interest rates. Trump has frequently criticized Federal Reserve Chair Jerome Powell over the bank’s monetary policy, even suggesting Powell might be removed. In contrast, Dimon has defended Powell and emphasized the importance of the Fed’s independence. He noted that attempting to pressure rates lower often backfires.

Dimon conveyed to Trump that interest rates could decrease if the economy shows continued strength, which aligns with perspectives shared in past meetings by Bessent. Subsequently, Trump visited a construction project at the Fed, a site that has stirred debate among his supporters. He indicated he would not remove Powell but reiterated his desire to see rates lowered.

On Wednesday, the Federal Reserve chose to hold interest rates steady, despite dissent from two governors appointed by Trump. Earlier in June, Dimon had another meeting with Trump and other officials, including Vice President JD Vance. Prior to these meetings, Dimon and Trump had not engaged in substantive dialogue for years, with both parties trading public barbs.

In the first administration, Dimon was among CEOs who disbanded a council after Trump’s remarks regarding racial tensions. He had called Trump’s challenge to the 2020 election results akin to treason, while Trump labeled Dimon as “highly overrated” for backing Nikki Haley in the Republican primary.

Despite their past disagreements, there are indications that both Dimon and Trump are moving toward reconciliation. Dimon states that as the head of America’s largest bank, he aims to engage with leaders of all political beliefs to contribute positively to the nation. He identifies as a patriot who prioritizes the country over politics and his institution.

In January, Dimon expressed that the world should consider Trump’s opinions, acknowledging the president’s decisions on various issues. Dimon has publicly backed some of the new tariffs aimed at national security and criticized Democrats for having “big hearts” and “little brains.”

When Trump’s tariff plans created market instability in April, Dimon warned that a trade war could lead the economy into a recession. Trump’s later decision to pause most tariffs was influenced by Dimon’s assessment of economic risks. Trump acknowledged respect for Dimon’s economic insights and the prominent banking enterprise he has cultivated.