President Donald #TRUMP said on Saturday that he plans to file a lawsuit against JPMorgan Chase within the next two weeks, accusing the bank of “debanking” him following the January 6 Capitol riot.
Trump Targets JPMorgan Over Debanking
Trump made the claim in a post on Truth Social, alleging that JPMorgan “incorrectly and inappropriately” cut ties with him. He said the bank ended a relationship that had lasted for decades and did so without providing fair notice. Trump framed the dispute as a key part of what he calls “Operation Chokepoint 2.0.”
According to #TRUMP , the debanking occurred after the January 6 protests. He did not share any documents or additional evidence to support the claim, and JPMorgan has not issued a public response in the provided material.
Trump also rejected a Wall Street Journal report suggesting he had offered JPMorgan CEO Jamie Dimon the role of Federal Reserve chair. He wrote that no such offer was ever made. He further dismissed rumors that Dimon had been offered the position of Treasury Secretary, calling those reports inaccurate, while expressing praise for current Treasury Secretary Scott Bessent.
Dimon Warns Fed Probe Could Shake Markets
The renewed tensions come as JPMorgan has warned against political interference in the Federal Reserve. Dimon has argued that weakening the Fed’s independence could unsettle financial markets by raising inflation expectations and driving interest rates higher.
These concerns surfaced as Trump’s Justice Department launched a criminal investigation involving Federal Reserve Chair Jerome Powell. JPMorgan has emerged as a leading critic of the probe.
Trump announced a 10% tariff on commodities imported from Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands, and Finland, set to take effect on February 1. He later warned that the tariff rate could rise to 25% starting June 1.
The tariff announcement comes ahead of a Supreme Court decision on Trump-era trade measures. The timing has drawn attention to the legal limits of executive authority on trade and has added to uncertainty for global markets and trading partners