Trump weighs tapping JP Morgan CEO Jamie Dimon for Treasury secretary, won’t remove Fed’s Powell: report

Donald Trump will not seek to remove Federal Reserve Chair Jerome Powell before the central banker’s term ends and would consider JPMorgan CEO Jamie Dimon for Treasury secretary if he won the Nov. 5 election, the former president told Bloomberg in an interview published on Tuesday.

JPMorgan declined to comment on Trump’s remarks. Powell’s term as chairman runs through Januray 2026, and his position as a Fed governor continues until 2028. The interview was conducted in late June, according to Bloomberg.

Trump said the Federal Reserve should abstain from cutting rates before the November elections in which the Republican presidential candidate faces Democratic President Biden.

Trump also said in the interview that he would reduce the corporate tax rate to as low as 15% and that he no longer plans to ban social media app TikTok.

In addition to targeting China for new tariffs of anywhere from 60% to 100%, he said he would impose a 10% across-the-board tariff on imports from other countries, citing complaints about foreign countries not buying enough US goods.