JPMorgan Chase CEO Jamie Dimon has been in communication with Donald Trump over the past few months through back channels, helping shape the president-elect’s policy agenda, The New York Post reported, citing four sources close to Trump’s transition team.

Dimon, a Wall Street veteran, has acted as “a sounding board” for Trump’s economic plans, as per the news report. According to one GOP insider, the report added, Dimon has participated in “no-holds-barred conversations” with Trump’s inner circle, discussing areas such as government spending, banking regulations, taxes, and trade.

Both the Trump transition team and JPMorgan declined to comment, the news report said.

Earlier on November 14, Trump announced via Truth Social that Dimon “will not be invited” to join his Cabinet. Dimon responded firmly, stating, “I haven’t had a boss in 25 years, and I’m not about ready to start.”

Also, in recent remarks, Dimon, a registered Democrat, suggested that Trump’s tariff threats could drive negotiations, expressing hope that the measures are implemented wisely. Despite declining to endorse a candidate during the election, Dimon has been critical of US banking regulations, labeling them an “onslaught” at a New York conference in late October. “It’s time to fight back. I’ve had it with this s—t,” he reportedly said, emphasizing that some rules were detrimental to businesses and low-income individuals.

This developing relationship between Dimon and Trump highlights the intersection of Wall Street influence and governmental policy under the incoming administration.