Bank of America and JPMorgan Chase are denying that political affiliation has any bearing on the customers who do business at the banks after President Trump alleged at Davos that BofA had refused to do business with some conservatives.

Businesses worldwide and mainstream economists are fretting about higher prices as President Donald Trump unveils his tariff-heavy economic strategy. But Jamie Dimon, CEO of the world’s largest bank,

JPMorgan Chase CEO Jamie Dimon wished Elon Musk the best with DOGE and said he'd "love to be helpful" with the government efficiency effort.

The JPMorgan Chase chief executive, who had warned of the negative effect of tariffs, said they could be justified for national security reasons.

At the World Economic Forum in Davos, Switzerland on Wednesday, JPMorgan Chase CEO Jamie Dimon cautioned investors on the risks of increased deficit spending, sticky inflation and geopolitical

JPMorgan Chase CEO Jamie Dimon on Wednesday said the U.S. stock market is overvalued and explained why he’s a little more pessimistic about the global economy than your average Wall Street insider.

Some of the other senior executives at the bank also saw their compensation rising by between 4% and 21% in 2024.

JPMorgan Chase & Co. lifted Chief Executive Officer Jamie Dimon’s pay to $39 million for 2024, a year in which the biggest US bank beat its own record for the highest annual profit in the history of American banking.

Dimon's comments Wednesday come as Trump has threatened to impose a 25 percent tariff on products from Mexico and Canada by February 1 and a 10 percent tariff on Chinese imports. Earlier Wednesday, Trump also teased the notion of imposing "taxes, tariffs, and sanctions" on Russia if it doesn't end its war against Ukraine.

JPMorgan CEO Jamie Dimon sounded the alarm on stocks in an interview today at the World Economic Forum in Davos, Switzerland, saying that the market looks overvalued. "Asset prices are kind of inflated, by any measure," Dimon told CNBC in Davos. He added that "they are in the top 10% or 15%" of historical valuations.

If implemented, the proposed tariffs could spike inflation, but national security is more important, the bank CEO said.