The relationship between US President Donald Trump and Jamie Dimon, the CEO of JP Morgan Chase, has taken a drastic turn for the worse.
Once, Dimon was seen as a champion of pro-growth policies, even to the point where he signed up for an economic advisory council formed by Trump's administration. The billionaire banker, who earned $43m last year, brought with him a level of credibility and respectability that helped ease some of the unease around Wall Street's new leader.
But as the months went by, Dimon began to distance himself from Trump's increasingly erratic behavior. He publicly denounced the President's withdrawal from the Paris climate agreement, which he said was a mistake, but tolerated the decision nonetheless. However, when Trump failed to condemn white supremacists at a rally in Charlottesville, Dimon made it clear that he would no longer tolerate such behavior.
Despite this, their relationship remained surprisingly cordial until recently. But as Trump's attacks on the Federal Reserve and his interest rate cap proposal gained momentum, Dimon became increasingly critical of the President's policies. The CEO even warned that AI could cause civil unrest, calling the idea of a 10% cap on US credit card interest rates a potential "economic disaster".
The final straw came when Trump launched a $5 billion lawsuit against JP Morgan and Dimon over claims that the bank had unfairly closed accounts for political reasons after the January 6 Capitol riots. The lawsuit is seen as a stark reminder of the deepening rift between the two men.
Personal tensions also flared up, with Dimon making a comment in 2018 that suggested he could beat Trump in an election, which only added fuel to the fire. Trump responded by calling Dimon "a poor public speaker and nervous mess".
Despite the increasingly acrimonious language, there were still moments of supposed common ground between the two men. But it seems that those days are behind them now. The war of words between Trump and Dimon has entered a new phase, one where neither side shows any signs of backing down.
Once, Dimon was seen as a champion of pro-growth policies, even to the point where he signed up for an economic advisory council formed by Trump's administration. The billionaire banker, who earned $43m last year, brought with him a level of credibility and respectability that helped ease some of the unease around Wall Street's new leader.
But as the months went by, Dimon began to distance himself from Trump's increasingly erratic behavior. He publicly denounced the President's withdrawal from the Paris climate agreement, which he said was a mistake, but tolerated the decision nonetheless. However, when Trump failed to condemn white supremacists at a rally in Charlottesville, Dimon made it clear that he would no longer tolerate such behavior.
Despite this, their relationship remained surprisingly cordial until recently. But as Trump's attacks on the Federal Reserve and his interest rate cap proposal gained momentum, Dimon became increasingly critical of the President's policies. The CEO even warned that AI could cause civil unrest, calling the idea of a 10% cap on US credit card interest rates a potential "economic disaster".
The final straw came when Trump launched a $5 billion lawsuit against JP Morgan and Dimon over claims that the bank had unfairly closed accounts for political reasons after the January 6 Capitol riots. The lawsuit is seen as a stark reminder of the deepening rift between the two men.
Personal tensions also flared up, with Dimon making a comment in 2018 that suggested he could beat Trump in an election, which only added fuel to the fire. Trump responded by calling Dimon "a poor public speaker and nervous mess".
Despite the increasingly acrimonious language, there were still moments of supposed common ground between the two men. But it seems that those days are behind them now. The war of words between Trump and Dimon has entered a new phase, one where neither side shows any signs of backing down.
... Dimon used to be all about the pro-growth vibe, but now he's totally turned his back on Trump 
. It's like they went from being buddies to bitter enemies overnight. And what's with this lawsuit drama? $5 billion over some closed accounts? Come on! 
Anyway, I think Dimon has every right to speak up about the economic disaster that is a 10% cap on credit card interest rates... AI causing civil unrest? Sounds like something out of a sci-fi movie 
. Trump's just not having it anymore, and honestly, I don't blame him 
. The game's changed, and Dimon's not backing down 
. Time to take sides, folks! 
like dimon was just trying to maintain some level of respectability while still being realistic about trump's crazy policies u feel? i get why he'd want to distance himself but at the same time, it's like dimon's trying to be a moral compass for trumps own inner circle 
I'm really sad to see these two heavy hitters go at each other like this 
. It's crazy how something that was supposed to be about growth & stability ended up with such drama 
. Jamie Dimon used to be a respected figure, but it seems like Trump's behavior has driven him into hiding 
. I think Dimon is right when he says AI could cause civil unrest 
- we need leaders who can see the bigger picture 
.
. And those comments about beating him in an election? 
just a joke, Jamie! (Or so I thought). Seriously though, it's not like this is going to bring the two of them any closer together 
.
. We could all learn from his example. Maybe Trump should take a page out of Jamie's book and start listening instead of tweeting? 
.
.
. Can we just focus on solving real problems instead? 
. It's clear their relationship has gone from cordial to complete meltdown 
.
. Until then, it's going to be an entertaining trainwreck, folks 
!
. And Dimon, well, he's just trying to protect his bank and his reputation 
. It's like they're speaking different languages or something. Remember when Dimon was all about being a "champion of pro-growth policies" though? 
. Now it's like they're two old foes on opposite sides of the battlefield 
. I'm kinda rooting for Dimon at this point though - who wouldn't want to see Trump get served with a lawsuit over his own bank? 
. I don't think Dimon's comment in 2018 was that bad either, I mean who wouldn't say they could beat Trump in an election? 
. Dimon's sudden change of heart isn't about him being a better person or anything like that... no way! This is all about the Benjamins 
. Now that Trump's started messing with the Fed, Dimon needs to protect his bank's interests, even if it means taking a hit at Trump 
. This feud is far from over, mark my words!