Trump to dine with Jamie Dimon, Wall Street execs at White House
President Donald Trump is set to host financial industry executives for dinner on Wednesday at the White House. This event marks the latest initiative by the administration to rally the nation’s business elite in support of his policies. According to the officials, JPMorgan Chase & Co. CEO Jamie Dimon is among the attendees. An official, speaking on condition of anonymity, elaborated on the president’s plans. JPMorgan did not provide a comment. Sources says that Adena Friedman, chair and chief executive officer of Nasdaq Inc., was also among the invitees. The dinner occurs as Trump confronts increasing political pressure regarding the economy and affordability—issues that were pivotal in securing Democratic electoral victories in New Jersey and Virginia last week.
Trump increased his backing from market’s elite in the 2024 campaign by pledging to reduce taxes and implement extensive deregulation, which generated optimism regarding his economic plans. Trump signed into law a tax cut measure that made permanent many provisions favored by business and has moved to scale back government regulations; however, other policies have tested that relationship. Trump’s extensive tariffs imposed on various countries and sectors have unsettled financial markets and increased expenses on imported goods. His criticisms of Federal Reserve Chair Jerome Powell have sparked concerns regarding the independence of the central bank. Moreover, a crackdown on immigration, which includes imposing new high fees for visas aimed at attracting top talent, poses a risk of straining the labor supply for businesses.
The president has also directed his focus towards banks regarding what he describes as political discrimination, addressing practices that he claims have led to some conservatives being denied access to financial services for ideological reasons. This comes despite the nation’s leading financial institutions denying any rejection of business on such grounds. Trump and Dimon have experienced a relationship marked by contention at times; however, they have moderated their comments in recent interactions. In July, the president and CEO convened at the Oval Office, engaging in discussions centered on the economy and regulation.
Trump has emphasized visits by various corporate leaders to the White House during his administration to showcase domestic initiatives as he aims to strengthen manufacturing within the country. In September, he hosted a dinner with tech industry executives, including Meta Platforms Inc.’s Mark Zuckerberg and Apple Inc.’s Tim Cook. During this gathering, Silicon Valley leaders committed to increasing investments in the US, particularly in the realm of artificial intelligence, a sector the administration has aimed to strengthen.
