Donald Trump crosses potential cabinet member off his list

President-elect Donald Trump has announced that JPMorgan Chase CEO Jamie Dimon will not be joining his cabinet.

Trump said Dimon, a registered Democrat who has supported some Republicans in recent years, “would not be invited” to join his administration in a post to Truth Social on Thursday.

“I respect Jamie Dimon of JPMorgan Chase very much, but he will not be invited to be part of the Trump administration,” Trump wrote. “I thank Jamie for his outstanding service to our country!”

While speculation had swirled that Dimon could be considered Trump’s pick for Treasury secretary, Reuters reported last week that the CEO had no intention of accepting any potential role in the administration.

David Axelrod, a former top adviser to former President Barack Obama, described Trump’s decision to announce Dimon’s non-appointment as “bizarre” in a post to X, formerly Twitter.

“One odd aspect of an appointment process that has grown increasingly bizarre over the past 36 hours is that Trump seems to take great pleasure in announcing who WILL NOT be invited to join his administration, ” wrote Axelrod. “This time, Jamie Dimon of JPMorgan Chase.”

A spokesman for JPMorgan Chase declined Newsweek’s request for comment Thursday.

Dimon has previously defended Trump, accusing some Democrats of “basically scapegoating” the former and future president while discussing the MAGA movement in a January appearance on CNBC’s Squawk Box.

The CEO also said Trump was “not wrong” on some financial policies, credited him with growing the economy “pretty well” in his first term and argued he was “kind of right” about NATO, immigration and China.

Early last month, Trump shared a screenshot on Truth Social that falsely claimed Dimon had endorsed him in this year’s presidential election, after rumors surfaced in conservative social media circles.

A spokesman for Dimon later denied the rumors, and Dimon publicly said he would not endorse Trump or any other candidate.

A report published by New York Times on October 22 claimed that Dimon “privately” supported Vice President Kamala Harris and disliked Trump, but was unwilling to say so publicly for fear of “backlash”.

The president-elect slammed Dimon last year after the CEO urged his business colleagues to “help” former U.S. Ambassador to the United Nations Nikki Haley defeat Trump in the GOP presidential primary.

“Highly overrated globalist Jamie Dimon, CEO of JPMORGAN, is quietly pushing another non-MAGA person, Nikki Haley, for president,” Trump wrote on Truth Social. “I was never a big Jamie Dimon fan, but had to live with this guy when he came begging to the White House. I guess I don’t have to live with him anymore, and that’s a really good thing.”

Update 11/14/24, 9:49 p.m.: This article has been updated with additional information.