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JPMorgan’s main executive has told associates of his support for nan vice president, and his dislike of Donald Trump. But fearful of blowback, he won’t opportunity it publicly.
By Rob Copeland
Rob Copeland, a finance reporter, said to colleagues, friends, associates and rivals of Mr. Dimon for this piece.
Oct. 22, 2024, 11:21 a.m. ET
When Jamie Dimon amazed nan governmental and financial elite early this twelvemonth by praising immoderate of Donald J. Trump’s policies, nan longtime Democrat group disconnected speculation that he had switched his allegiance to nan Republican candidate.
He has done small since to tamp that down. The usually outspoken main executive of JPMorgan, nan nation’s largest bank, has been uncharacteristically vague astir his governmental leanings of late. In an question and reply past week, he moreover near open nan door to endorsing Mr. Trump — whose behaviour successful nan aftermath of nan past predetermination Mr. Dimon erstwhile described arsenic “treason.”
In private, however, Mr. Dimon has made clear that he supports Vice President Kamala Harris and would see a role, possibly Treasury secretary, successful her administration. He has besides told his associates that nan erstwhile president’s 2020 predetermination denialism remains adjacent to a disqualifying factor. Those views were shared by 3 group who asked not to beryllium identified discussing his authorities because Mr. Dimon was speaking privately.
Mr. Dimon isn’t making his stance known publically because he’s fearful that if Mr. Trump is victorious, he could retaliate against nan group and companies who publically opposed his run, his associates said. That’s a interest shared by different powerful firm executives, and not without reason: Mr. Trump has begun to summation threats of governmental retribution successful caller weeks.
Both nan Trump and Harris campaigns person sought Mr. Dimon’s nationalist support, and Mr. Trump erstwhile — falsely — declared that he had it. But for a man who has been eager to measurement successful connected virtually immoderate taxable — Ukraine, inequality, migration — Mr. Dimon’s soundlessness reflects a discomfort pinch nan thought of staking retired a nationalist position connected a contentious issue, group adjacent to him say.
His quiet has been noticed successful Washington and connected Wall Street, wherever his each utterance is tracked. Fans, rivals and nan overseas detractor statement pinch immoderate siren that Mr. Dimon, 68 years aged and a billionaire, hasn’t made his circumstantial stance connected nan predetermination known.
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