This, of course, comes with several incredible implications, and with Trump making one of his first big moves already, the implications will likely come quickly. Today, we’ll talk about what Trump’s first big move was, the implications of the move from a pro/con perspective, and whether or not Donald Trump is likely to be a good president from an economic standpoint.
Trumps First Move
Donald Trump has said that if he made it into office, he was going to flip the political system on its head. Well, with his first move, he’s showing that he was serious in saying this. On Thursday, we found out that key members of the Donald Trump campaign have already reached out to Jamie Dimon, the CEO of JPMorgan. So, what did they reach out for?
According to recent reports, Donald Trump wants Jamie Dimon to play a key role in the United States Treasury. In fact, the reports state that Trump’s team has asked Dimon to become the Secretary of the United States Treasury. That’s a huge position to hold!
The Positive Implications Of This Move
Ultimately, in my opinion, there are several positive implications associated with Jamie Dimon being the Secretary of the United States Treasury. Here are the two positive implications that I believe are most important…
- Donald Trump Follow Through – First and foremost, this news shows that Donald Trump does plan on following through with his promises. His ultimate goal is to breath life back into the United States economy, and with his first move likely being a change in the US Treasury, his follow through might be just what the country needs.
- Jamie Dimon Might Be Great For The Position – If you think of the name Jamie Dimon, there are a lot of things that may come to mind. Finance giant, leader in the market, King of Wall Street, are likely a few. At the end of the day, Jamie Dimon knows money. If Donald Trump’s plan is to find the foremost experts in the United States and put them in a position to change the state of the economy, he may be onto something.
The Negative Implication Of This Move
While there is quite a bit to gain from the move the make Jamie Dimon the Secretary of the United States Treasury, there is one clear negative. That is the fact that Jamie Dimon would be the Secretary of the Treasury. The problem with this is that moves made by the United States Treasury will have tremendous implications for United States banks. I wouldn’t be surprised if Dimon accepts the offer and we start to see quite a bit of negative press.
Think about it, it is up to the Treasury to make decisions that will affect the United States economy, including the lending and banking system. JPMorgan just happens to be one of the world’s largest financial institutions, and Dimon is the CEO! Putting Dimon in charge of making adjustments to rules imposed on banks is definitely a conflict of interest. Think about it, the same person that runs a company that makes money through loans, checking accounts, investments and other forms of banking will essentially be in charge of a government body that largely dictates a major piece of these markets as a whole.
Will Donald Trump Be Good For The United States Economy?
At the end of the day, there’s one big question that most people have in mind. Will Donald Trump be good for the United States economy? In my opinion, the answer is yes. Here’s why…
- Republican Economic Views – The United States has long depended on republican economic views in order to balance its finances. At the end of the day, Trump maintains very republican economic views, and if he acts on these views, it will be a good thing.
- Taxes – One big part of Donald Trump’s tax plan is creating a system that will bring the big bucks back home with some of the world’s largest companies. This will likely be great for the United States Economy.
- Jamie Dimon – The fact that the Trump camp has reached out to Jamie Dimon shows that Trump is serious, and in my opinion, that’s a great thing!
At the end of the day, it looks like Donald Trump may actually be good for the economy. While there are some risks here, the President-elect seems to be making big changes. This may equate to better taxes, better lending and better business growth.