Donald Trump will not seek to unseat Federal Reserve Chairman Jerome Powell before the central banker’s term ends. He would consider JPMorgan CEO Jamie Dimon as Treasury secretary if he wins the Nov. 5 election, the former president told Bloomberg in an interview published Tuesday.
JPMorgan declined to comment on Trump’s remarks. Powell’s term as chairman runs through January 2026 and his position as Fed governor runs through 2028. The interview was conducted in late June, Bloomberg reported.
Trump said the Federal Reserve should not cut interest rates before the November election, which will pit the Republican presidential nominee against Democratic President Biden.
Trump also said in the interview that he would cut corporate taxes to at least 15% and that he no longer plans to ban the social media app TikTok.
In addition to the new 60% to 100% tariffs he would impose on China, he said he would impose a 10% across-the-board tariff on imports from other countries, citing complaints that foreign countries are not buying enough American goods.