Trump's Treasury Secretary Nominee: BlackRock's Larry Fink or JPMorgan Chase's Jamie Dimon?

Several media outlets cited a report by New York Post columnist Charlie Gasparino, claiming that presidential candidate Trump is considering inviting BlackRock CEO Larry Fink to be his Treasury Secretary to boost Bitcoin. However, a clarification from the original source stated, "Don't just read the headlines, Fink is only an unofficial external advisor!"

Relationship between Trump and BlackRock's Larry Fink

BlackRock has been managing Trump's investment portfolio for many years. Trump has invested in BlackRock's Obsidian Fund, a global fixed income multi-strategy hedge fund launched in 1996, which is one of BlackRock's longest-standing financial products.

In 2017, when Trump invited many CEOs to the White House, he mentioned:

"Larry has done a great job for me. He manages a lot of my money. I have to tell you, he's brought me great returns."

Larry Fink is a Democratic Party Member

However, Larry Fink is a long-time member of the Democratic Party on Wall Street and has been touted as a potential Treasury Secretary under Democratic administrations, dating back to Barack Obama's presidency. His connections also extend to Biden's White House.

Gasparino believes that Fink is more of a moderate in politics and a "proud globalist." BlackRock has faced criticism from right-wing individuals due to its strong support for ESG. If Trump were to be re-elected, he is expected to fully embrace the populist "Make America Great Again" agenda. His choice of populist Ohio Senator JD Vance as a running mate indicates that tariffs, a weaker dollar, trade wars, and more debt—things Fink dislikes—may be on the horizon.

Trump Favors Jamie Dimon More

Regarding Trump's relationship with JPMorgan Chase CEO Jamie Dimon, the author points out that Dimon once said he would be a better president than Trump because "I'm as tough as he is, and I'm smarter."

Trump had previously called the JPMorgan Chase CEO a "highly overrated globalist" on social media.

However, in a recent Bloomberg interview, Trump mentioned that he could envision JPMorgan's CEO Jamie Dimon serving as his Treasury Secretary.

Gasparino believes that Trump likes to maintain close ties with his friends like Fink but even closer ties with his enemies like Dimon. He refutes claims made by several media outlets that this could lead to a rise in Bitcoin prices,

"You can't just go by the headlines. Fink is just an unofficial external advisor!"