Jamie Dimon, chairman and CEO of JPMorgan Chase, had a private lunch with Vice President Kamala Harris at the White House last week, people familiar with the matter said.
According to the Financial Times“The private meeting, which was not disclosed on Harris' public agenda, took place a little more than two months after Dimon praised Donald Trump for his handling of the economy and US foreign policy while he was president” .
The lunch date “comes at a difficult time in relations between the Biden administration and corporate America, and suggests an attempt by both sides to improve the relationship as the general election campaign approaches of 2024”, says the medium. “It was not possible to know what was discussed in the meetings. The White House and JPMorgan, America's largest bank by assets, declined to comment.”
For one thing, President Joe Biden has been around for a while demanding that billionaires pay more taxes, on the other hand, notes the Financial Times, “he has stepped up his fundraising efforts among Democrats on Wall Street to pay for his re-election campaign against Trump, in which he has a financial advantage substantial”.
In addition to wanting to raise taxes on the rich and big corporations, the president has “taken a tougher approach to competition law enforcement, sided with unions in contract negotiations and criticized companies to raise prices and rates,” according to the Times. “Businesses have felt that their concerns, which span tax, trade and regulation, have not been heard in Washington.”
While in D.C., Dimon also met separately with White House Chief of Staff Jeff Zients, federal regulators and members of Congress, all at a time when the banking industry is pushing against a proposal from regulators Americans to tighten bank capital rules.
In a January interview with CNBCDimon suggested that Democrats should be careful what they say about Trump supporters.
“I wish Democrats would think a little more carefully when they talk about MAGA,” Dimon said.
At the World Economic Forum meeting in Davos, Switzerland, the CEO warned attendees: “I think this negative talk about MAGA will hurt Biden's election campaign.”
Dimon, a self-described “barely a Democrat,” said members of his party “are basically scapegoating” Trump supporters by equating their support with Trump's character.
“I don't think they're voting for Trump because of their family values,” he said.
Besides, he said, Trump was “kind of right” about a lot of things.
“Take a step back, be honest,” he told the Davos crowd. “He was a little right about NATO, a little right about immigration. He grew the economy pretty well. Tax reform worked. He was right about part of China.”
“He wasn't wrong on some of these critical issues,” Dimont said, “and that's why they voted for him.”
Although he supported Nikki Haley during the Republican primaries, Dimont “served on Trump's business advisory group in 2017 and has said he would 'try to help any president of the United States because I'm a patriot,'” according to the Financial Times. .
He proved it recently.
“Dimon worked extensively with the Biden administration last year during the regional banking crisis,” the firm reports, “including discussions with Treasury Secretary Janet Yellen on measures to rescue troubled institutions and protect depositors” .
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