JPMorgan Chase CEO Jamie Dimon has now made it clear where he draws the line on his future career. As reported by Bloomberg, Dimon said that he will never serve as Federal Reserve Chair, though he hasn’t ruled out a possible role as US Treasury Secretary. Speaking at the US Chamber of Commerce’s State of American Business event, Dimon has asked if he would consider leading the Federal Reserve. To which he responded, “Chairman of the Fed, I’d put in the absolutely, positively no chance, no way, no how, for any reason.” Dimon said that he would ‘take the call’ if asked to run the Treasury, leaving the door open to a cabinet role in the future.Dimon has led JPMorgan for two decades, transforming it into the largest and most profitable US bank. His stature has made him a fixture in discussions about potential government roles, with his name floated for positions in both Democratic and Republican administrations.
Clash with Donald Trump over Fed independence
The comments made by Dimon came just days after a a public back-and-forth with President Donald Trump over the administration’s criticism of the central bank. Recently, Dimon warned that undermining Fed independence was “not a great idea” and could lead to higher inflation and interest rates. Trump quickly responded to the warning and said, “I think he’s wrong.”Dimon then stressed on the fact that most leaders including the president agree the Fed must remain independent. “If you chip away too much — in my view, this is my opinion — it will drive rates higher, not lower,” Dimon said.
JPMorgan’s $2 billion AI bet already breaking even
Earlier this month, Dimon offered more encouraging numbers. He revealed that JPMorgan’s $2 billion annual AI spend is now generating roughly equivalent savings—a milestone he called “just the tip of the iceberg.” The bank’s hundreds of AI use cases range from internal operations to external-facing tools.The reality check, however, came from market reaction. JPMorgan’s stock tumbled over 4% Tuesday after the earnings announcement, reflecting investor jitters about whether the spending spree will actually deliver promised returns. Whether Dimon’s faith-based approach to tech investment persuades Wall Street remains to be seen.
About the Author
