In a recent announcement, President-elect Donald Trump confirmed that Jamie Dimon, the CEO of JPMorgan Chase, will not be joining his administration. This decision comes amid widespread speculation that Dimon was a potential candidate for the role of Treasury Secretary. Trump made the announcement on his social media platform, Truth Social, stating, "I respect Jamie Dimon, of JPMorgan Chase, greatly, but he will not be invited to be a part of the Trump Administration. I thank Jamie for his outstanding service to our Country!"

Dimon, who has been at the helm of JPMorgan Chase for nearly two decades, had been the subject of rumors regarding a possible cabinet position. However, he had previously indicated that his chances of taking an official post were "almost nil." Dimon has expressed his intention to continue leading JPMorgan Chase, stating, "I intend to be doing what I do. And I almost guarantee I’ll be doing this for a long period of time. Or at least until the board kicks me out."

The decision not to include Dimon in the administration aligns with his own plans to remain at the bank. Despite not endorsing any presidential candidate, Dimon reportedly expressed private support for Vice President Kamala Harris during the election. His wife, Judith Kent, actively campaigned for Harris in Michigan.

Trump's announcement has been part of a series of surprising cabinet choices, including the selection of former Rep. Matt Gaetz as Attorney General and Fox News host Pete Hegseth as Secretary of Defense. The president-elect is yet to announce his pick for Treasury Secretary, with Howard Lutnick and Scott Bessent emerging as top contenders.

Dimon, a prominent figure in corporate America, has been known for his frequent visits to Washington to engage with policymakers on various issues, including the economy and US-China relations. Despite the speculation, Dimon has consistently denied having ambitions for a government role, emphasizing his commitment to JPMorgan Chase.