JPMorgan Chase CEO Jamie Dimon is reportedly providing behind-the-scenes support for Vice President Kamala Harris, going so far as to consider a Treasury secretary position in a potential Harris administration, the New York Times reveals. This position, kept discreet for fear of reprisals in the event of Donald Trump's victory, illustrates the complexity of the relations between Wall Street and American politics in 2024.
An ambiguous positioning that challenges Wall Street
Jamie Dimon, a leading figure in American finance, has cultivated for several months a calculated ambiguity about his electoral preferences. According to the New York Times, the CEO of JPMorgan Chase is privately considering accepting the position of Treasury Secretary in a potential Harris administration, while publicly maintaining a posture of neutrality.
This discreet position contrasts sharply with the public commitment of other influential leaders like Elon Musk, who does not hesitate to openly campaign for Donald Trump.
Dimon's positions are notable for their apparent duality, particularly visible in the crypto sector. At the Davos Forum in January 2024, he once again strongly criticized Bitcoin, calling it a “pet rock” and even calling on Congress to “shut down” cryptos.
Yet at the same time, JPMorgan is strengthening its commitment to the crypto ecosystem: the bank is actively supporting BlackRock's Bitcoin ETF, expanding its digital asset services and preparing the launch of its own crypto investment product.
Between patriotic duty and corporate responsibility
Jamie Dimon's position reflects a delicate balance between his personal beliefs and his responsibilities as a leader. At JPMorgan Chase's recent earnings call, he said, among other things, that the likelihood of taking a government job was “almost zero,” while adding, “I always reserve the right” to reconsider.
This ambiguity has sparked contrasting reactions in Washington and on Wall Street. Some observers, such as Robert Reich, former Secretary of Labor under Clinton, criticize this lack of clear positioning, believing that a leader of his stature should take a more firm stand on such crucial issues.
Both the Trump and Harris campaign teams attempted to garner his public support, illustrating the strategic importance of endorsing such an influential figure in the financial world.
In this tense political context, where even Elon Musk deploys controversial strategies to influence elections, Jamie Dimon's discretion appears to be a calculated choice, favoring the stability of JPMorgan over risky political positions.
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