Big bank CEOs can’t wait for Trump. What are they claiming?
Posted on: January 19, 2025
JPMorgan Chase’s Jamie Dimon, Goldman Sachs’ David Solomon, and others weighed in on the president-elect as banks kicked off fourth-quarter earnings
By Rocio Fabbro
The biggest U.S. banks reported earnings this week, and the companies’ top leadership didn’t shy away from addressing the incoming Trump administration.
The banking industry has shown that it’s eager to usher in a new era under President-elect Donald Trump. Wall Street bankers expect the former and soon-to-be president to scale back regulations when he returns to the White House next week. (Nothing new from these highway robbers of financial multinationals)
A hands-off approach under Trump is expected to spur investment and other banking activities, such as mergers and acquisitions. (Ushering another era of major financial meltdown?)
In the words of JPMorgan Chase (JPM) CEO Jamie Dimon, bankers — regardless of who they voted for — were “dancing in the street” following Trump’s election victory in November.
But financial institutions aren’t entirely free from concerns. Tariffs and policy proposals that could further balloon the national debt are front of mind, as concerns rise about inflation re-rearing its head.
Photo: Hollie Adams/Bloomberg (Getty Images)
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