The relationship between Donald Trump and Jamie Dimon, the chairman of JP Morgan Chase, has reached a boiling point. What was once a strong alliance between the billionaire businessman and the president turned sour several years ago when their differing views on various issues began to surface.
In 2017, Dimon had expressed his disagreement with Trump's decision to withdraw from the Paris Climate Agreement, but he had also been a supporter of the president's tax cuts. However, things took a turn for the worse after the Charlottesville white nationalist rally in 2017. Dimon condemned the violence, while Trump failed to denounce white supremacists.
The economic advisory council that both men were part of quickly disbanded, with Dimon citing his role as a leader is to bring people together rather than tear them apart. However, tensions continued to simmer between the two, particularly after Dimon made some critical comments about Trump's policies and his handling of the economy during a 2018 speech.
Dimon had praised Trump's tax cuts, but he also criticized the idea of capping US credit card interest rates at 10%. In response, Trump has repeatedly attacked Dimon, calling him "a bad Fed person" and saying that he wants higher interest rates. This, in turn, has led to Dimon criticizing Trump's plans for lower interest rates.
The latest escalation came when Trump launched a $5 billion lawsuit against JP Morgan Chase and Dimon over claims that the bank closed his accounts due to political reasons after the 2021 Capitol riot. The lawsuit is a response to Trump's claim that the bank unfairly targeted him, but it has also highlighted the deepening rift between the two men.
Dimon has publicly backed Powell, the chair of the Federal Reserve, amid controversy surrounding an investigation into Trump. Dimon stated that any attempt to chip away at Powell's independence would be bad for inflation expectations and interest rates over time.
Trump's attacks on Dimon have also taken a personal tone, with him calling Dimon "highly overrated" in a post on Truth Social in November 2023. The exchange between the two has become increasingly acrimonious, with Trump accusing Dimon of being pro-globalist, while Dimon has criticized Trump's policies as economic disasters.
While this lawsuit may not mark the end of their relationship entirely, it's clear that the tensions between Trump and Dimon have reached a breaking point. The relationship was once one of mutual respect and admiration, but now, it seems to be marked by deep-seated disagreements and personal attacks.
In 2017, Dimon had expressed his disagreement with Trump's decision to withdraw from the Paris Climate Agreement, but he had also been a supporter of the president's tax cuts. However, things took a turn for the worse after the Charlottesville white nationalist rally in 2017. Dimon condemned the violence, while Trump failed to denounce white supremacists.
The economic advisory council that both men were part of quickly disbanded, with Dimon citing his role as a leader is to bring people together rather than tear them apart. However, tensions continued to simmer between the two, particularly after Dimon made some critical comments about Trump's policies and his handling of the economy during a 2018 speech.
Dimon had praised Trump's tax cuts, but he also criticized the idea of capping US credit card interest rates at 10%. In response, Trump has repeatedly attacked Dimon, calling him "a bad Fed person" and saying that he wants higher interest rates. This, in turn, has led to Dimon criticizing Trump's plans for lower interest rates.
The latest escalation came when Trump launched a $5 billion lawsuit against JP Morgan Chase and Dimon over claims that the bank closed his accounts due to political reasons after the 2021 Capitol riot. The lawsuit is a response to Trump's claim that the bank unfairly targeted him, but it has also highlighted the deepening rift between the two men.
Dimon has publicly backed Powell, the chair of the Federal Reserve, amid controversy surrounding an investigation into Trump. Dimon stated that any attempt to chip away at Powell's independence would be bad for inflation expectations and interest rates over time.
Trump's attacks on Dimon have also taken a personal tone, with him calling Dimon "highly overrated" in a post on Truth Social in November 2023. The exchange between the two has become increasingly acrimonious, with Trump accusing Dimon of being pro-globalist, while Dimon has criticized Trump's policies as economic disasters.
While this lawsuit may not mark the end of their relationship entirely, it's clear that the tensions between Trump and Dimon have reached a breaking point. The relationship was once one of mutual respect and admiration, but now, it seems to be marked by deep-seated disagreements and personal attacks.
. Like, come on Jamie Dimon, express your opinions as much as you want, but don't get attacked by Trump like that 
. And what's with the lawsuit, $5 billion? That's just ridiculous 
. It's not like JP Morgan Chase is going to break a sweat in court. Anyway, I'm just glad Dimon is standing up for Powell and taking Trump on, even if it means he'll get some shade back 
. I mean, who can't see that Trump's policies are just a hot mess? 
Still, I wish they'd just have a civil conversation instead of resorting to all this drama 
. It's like, hello, we're supposed to be grown adults here! 
i remember when they were on the same economic advisory council thingy and everything was cool but then things got messy at that charlottesville rally in 2017 and it all went downhill from there 
for their friendship, if you can even call it that now 
and who knows what will happen next 
.
. But hey, at least we get some juicy drama out of it 
. One thing's for sure, though: these two are not going to be friends anytime soon 
. And can we talk about how Trump's been using his platform to attack people like Dimon who are trying to bring people together? It's not cool, Donald 
. I'm all for standing up for what you believe in, but personal attacks? That's just childish 
. And let's be real, this whole lawsuit thing is just a distraction from the real issues at hand 
plus its pretty clear that trump is the one who's getting salty about it, trying to deflect from his own problems 
. Dimon should just stick to his day job and let Trump be... well, Trump 
.
. But now it seems like they're more like adversaries than allies 
.
and can we talk about how low trumps gotta go by calling dimon "highly overrated"? 
. I'm not saying their relationship is going to fix itself, but maybe this lawsuit will make people realize that Dimon's not being a sellout or anything. He's just a businessman trying to do what's best for his bank and the country.
. That guy needs to be left alone to do his job. And Trump really should stop making snide comments about people he doesn't even know 
. It's like, can't we all just get along? The whole thing feels so unnecessary, like a game of tit-for-tat that's going nowhere fast 
. Dimon gets attacked for disagreeing with Trump, and then Trump attacks him back... it's just a never-ending cycle of negativity 
.
! What happened to these guys? I mean, they used to get along just fine, then BAM! Suddenly, it's like a million miles apart 
. Dimon was all for the Paris Climate Agreement and Trump was like "no way José" – what's up with that?! 
.
so its like they used to be buddies on the economic front but trumps ego started to get in the way 
They both have different views on climate change, Charlottesville, and economic policies 
️ Dimon has been speaking out against Trump's decisions, and Trump has been attacking him back 
This lawsuit thingy is just the cherry on top 
Trump thinks JP Morgan Chase unfairly targeted him after the Capitol riot 
But honestly, I think it's time for both to move on from each other