JPMorgan CEO: Trump is right about NATO, immigration, economy

[New Sancai Compilation First Release] JPMorgan Chase CEO Jamie Dimon said that former U.S. President Donald Trump’s policies were generally “the right thing” for the country.

In an interview with CNBC on January 17 at the World Economic Forum in Davos, Switzerland, Dimon discussed the current economy and politics in the United States with just over nine months left before the 2024 presidential election.

He said many Trump supporters support the former president because of his policies, not necessarily his personality.

"I wish Democrats would think more carefully when they talk about MAGA," Dimon said in an interview. "When people say 'MAGA,' they're really looking at people who voted for Trump...basically giving They look for scapegoats, and you are just like him.”

"I don't think they voted for Trump because of his family values. Honestly, taking a step back. He was right about NATO, he was right about immigration. He made the economy grow well. Taxes The reforms worked, and he was right about some of the issues in China. I didn't like what he said about Mexico. But he wasn't wrong on these key issues. That's why they voted for him."

Dimon added that "people should be more respectful of our fellow citizens" and suggested to CNBC hosts that they ask people not just if they support Trump, but why.

"This is not a binary thing, you either support Trump or you don't support Trump," he said. "Why do you support Trump?"

Without being asked specifically about MAGA, Dimon lashed out at Democrats for attacking Trump supporters and said President Joe Biden's obsession with MAGA would hurt his re-election chances.

"Democrats have done a really good job with the 'deplorables' clinging to their Bibles and their beer and their guns," Dimon said. "I mean, really? We can stop these things and grow and Respect others and listen to them?”

"I think this negative rhetoric about MAGA will hurt the Biden campaign."

According to CNBC, Dimon said he remains cautious about the U.S. economy over the next two years due to the combined impact of financial and geopolitical risks.

"All these very powerful forces are going to affect us in '24 and '25," Dimon said.

"Terror in Ukraine, Israel [and] the Red Sea, quantitative tightening, I still question whether we understand exactly how it works."

Quantitative tightening refers to measures taken by the Federal Reserve to reduce liquidity, or the money supply, in the economy.

(Compiled by: Wang Jimin)

(Editor: Jiang Qiming)

(Source of the article: First published by Xinsancai)