Trump blasts Dimon, threatens to sue JPMorgan over debanking

In a post on Saturday, Trump responded to a Wall Street Journal story that said Trump had offered Dimon the job of Fed chairman several months ago in a way that Dimon interpreted as a joke.

“There was no such offer at all, and in fact, I will be filing a lawsuit against JP Morgan Chase within the next two weeks for improperly and improperly withdrawing my funds following the January 6th protests,” Trump wrote.

He did not go into details. JPMorgan did not immediately respond to a request for comment over the weekend.

Trump claimed in August that JPMorgan “discriminated against me very badly” when he claimed the bank asked him to close accounts he had held for decades, an action he believed was linked to his supporters’ storming of the Capitol to stop the certification of President Joe Biden’s win in 2021. The bank later said it faced audits, investigations and legal action related to the Trump administration’s fight against “bankruptcy.”

Dimon said earlier this week that he would not consider taking over as Fed chairman.

Asked at a U.S. Chamber of Commerce event on Thursday whether he would consider a takeover of the central bank, Dimon said: “Fed Chairman, I’ve never missed a chance, in any way, how, or for any reason.”

As for running the Treasury Department, he said, “I’ll take the call.”

Trump has not yet announced who he will nominate to succeed Federal Reserve Chairman Jerome Powell, whose term ends in May. Trump said on Friday that he had options in mind but declined to specify them.

Read more: Trump expresses reluctance to nominate Hassett to head the Fed

Dimon’s comments follow a public spat between Dimon and Trump earlier this week over the president’s attacks on the Fed, including criminal subpoenas issued by the Justice Department over the renovation of the Fed’s headquarters. Dimon said Tuesday that reducing the Fed’s independence is “not a great idea” and could lead to higher inflation and interest rates over time.

Dimon has in the past pushed back against attempts by Trump allies to suggest that the bank’s client decisions are biased.

“We don’t disclose people’s religious or political affiliations,” Dimon told Fox Business in December.