Trump weighs Jamie Dimon for US Treasury, won’t remove Fed’s Powell

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 runs through January 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 US President Joe Biden.

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

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