In a recent interview published by Bloomberg, former President Donald Trump revealed that he has no plans to oust Federal Reserve Chair Jerome Powell before the end of his term. Trump also stated that if he wins the November 5 election, he would consider JPMorgan Chase CEO Jamie Dimon for the position of Treasury Secretary.

Powell's term as chair of the Federal Reserve is set to expire in 2026, while his seat on the Fed Board of Governors is due to expire in 2028. In response to Trump's remarks, JPMorgan declined to comment. The interview with Trump took place in late June, according to Bloomberg.

This announcement comes after a tumultuous relationship between Trump and Powell. Initially appointed to the Fed Board of Governors by former President Barack Obama, Powell was later selected by Trump to lead the central bank in early 2018. However, their relationship soured when Trump criticized the interest rate hikes implemented by Powell during his first year in office. Trump even considered firing Powell, although it was determined that he likely did not have the authority to do so. Throughout his presidency, Trump continued to threaten Powell, a practice that President Joe Biden, Trump's successor, has refrained from during his term.

Regarding the upcoming November elections, Trump expressed his belief that the Federal Reserve should avoid cutting rates. Powell, on the other hand, has repeatedly stated that politics do not influence the central bank's decision-making. He reaffirmed this stance on Monday.

On the subject of Dimon, Trump revealed that he is considering him for the role of Treasury Secretary, despite previously criticizing him. Last year, Trump referred to Dimon as a "Highly overrated Globalist" on his Truth Social platform. However, Dimon's recent praise for some of Trump's positions and policies, such as his views on NATO, immigration, the economy, trade tax reform, and China, seems to have positively influenced Trump's perception of him.

In addition to these announcements, Trump also mentioned the possibility of reducing the corporate tax rate to as low as 15% and implementing tariffs on imports from various countries, with a particular focus on China.

As of now, Dimon's potential nomination and Trump's economic policies remain speculative, but they present potential shifts in key governmental positions and taxation policies. Time will tell if these considerations turn into actionable plans should Trump secure a victory in the upcoming election.