Trump Denies Nominating JPMorgan CEO Dimon for Fed Chair
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: Newsfilter
- Nomination Denial: Trump publicly denied ever offering to nominate JPMorgan CEO Jamie Dimon for the Federal Reserve chair position, directly contradicting a Wall Street Journal report, indicating his dissatisfaction with media narratives and a desire to protect his image.
- Legal Threat: Trump plans to sue JPMorgan within the next two weeks, alleging that the bank “debanked” him following the January 6, 2021, Capitol attack, which could negatively impact JPMorgan's reputation and business relationships.
- Market Reaction: Trump's statements may draw market attention to JPMorgan, particularly regarding the complexities of its political relationships, prompting investors to be wary of potential legal risks and their implications for stock prices.
- Political Implications: This incident highlights the strained relationship between Trump and Wall Street, potentially affecting future financial policy formulation and market confidence, especially amid uncertainties surrounding Federal Reserve policy directions.
Analyst Views on JPM
Wall Street analysts forecast JPM stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for JPM is 344.31 USD with a low forecast of 305.00 USD and a high forecast of 370.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
17 Analyst Rating
11 Buy
6 Hold
0 Sell
Moderate Buy
Current: 309.260
Low
305.00
Averages
344.31
High
370.00
Current: 309.260
Low
305.00
Averages
344.31
High
370.00
About JPM
JPMorgan Chase & Co. is a financial holding company. The Company is engaged in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. The Company operates through three segments: Consumer & Community Banking (CCB), Commercial & Investment Bank (CIB), and Asset & Wealth Management (AWM). Its CCB segment offers products and services to consumers and small businesses through bank branches, ATMs, digital and telephone banking. Its CIB segment consists of banking and payments and markets and securities services, and offers a suite of investment banking, lending, payments, market-making, financing, custody and securities products and services to a global base of corporate and institutional clients. AWM segment offers investment and wealth management solutions. It offers multi-asset investment management solutions, retirement products and services, brokerage, custody, estate planning, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
