JPMorgan Chase CEO Jamie Dimon on Wednesday praised former President Donald Trump’s policy record and warned the Democrat establishment that their disparagement of the MAGA movement is immature and risks hurting President Joe Biden’s chances at re-election.
Mr. Dimon made the remarks in a Jan. 17 interview on CNBC’s “Squawk Box” on the sidelines of the World Economic Forum (WEF) gathering of global elites in Davos, Switzerland. remove
After discussing the current state of the U.S. economy—”it’s a mistake to assume that everything’s hunky dory,” he cautioned—the bank executive issued a warning to Democrats to ease up on the vitriol when criticizing President Trump’s MAGA, or “Make America Great Again,” movement.
“I wish the Democrats would think a little more carefully when they talk about MAGA,” Mr. Dimon said. “When people say MAGA, they’re actually looking at people voting for Trump … and they’re basically scapegoating them.”
President Biden has repeatedly accused “MAGA Republicans” of having an “extreme ideology” in what has become a White House trope seeking to label Trump supporters as extremists and a danger to democracy.
‘Grow Up’
Mr. Dimon said he doesn’t think people voted for Trump because they agree with everything he says or always like the tone of his messaging. Rather, it’s because they think his stance on key issues is correct.
“If you just take a step back—be honest—he’s kind of right about NATO, kind of right about immigration. He grew the economy quite well. Tax reform worked. He was right about some of China,” Mr. Dimon said, though he added he sometimes found the former president’s tone objectionable.
“I don’t like how he said things about Mexico,” Mr. Dimon said. “But he wasn’t wrong about some of these critical issues. And that’s why they voted for him.”
“And I think people should be a little more respectful of our fellow citizens,” the bank executive continued, adding that the Democrats have resorted to an array of disparaging messaging about Trump voters, calling them “deplorables, hugging onto their Bibles, and their beer, and their guns.”
“I mean, really? Could we just stop that stuff and actually grow up and treat other people with respect and listen to them a little bit,” Mr. Dimon said, adding, “I think this this negative talk about MAGA is going to hurt Biden’s electoral campaign.”
Mr. Dimon’s remarks come on the heels of a historic victory for President Trump in the Iowa caucuses, in which the former president cemented his place as the favorite in the 2024 race for the White House.
President Trump’s 30-point win is the largest in the history of the Iowa caucuses.
Mr. Dimon said earlier that he supported Trump rival, former South Carolina Gov. Nikki Haley, for the Republican nomination.
However, the bank chief also said he’d be pleased to advise President Trump if he were to win the election, or “whoever is president of the United States.”
‘Extreme About Making America Great Again’
Following President Trump’s victory in Iowa on Monday night, President Biden sought to build support for his campaign, issuing a statement that once again referenced “extreme MAGA Republicans” while asking for donations.
“Looks like Donald Trump just won Iowa,” President Biden said in a post on X.
“He’s the clear front runner on the other side at this point. But here’s the thing: this election was always going to be you and me vs. extreme MAGA Republicans. It was true yesterday and it’ll be true tomorrow,” he added.
Some commenters reacted to President Biden’s remarks by suggesting that, while the incumbent was attacking MAGA, President Trump was taking the high ground after his Iowa win and called for national unity.
“I think this is time now for everybody—our country—to come together,” President Trump said in his victory speech.
“Whether it’s Republican or Democrat or liberal or conservative, it would be so nice if we could come together and straighten out the world and straighten out the problems and straighten out all the death and destruction we’re witnessing,” the former president said.
President Trump has said on several occasions that, if elected in 2024, he could quickly end the war in Ukraine.
He also predicted recently that if his comeback bid fails, America would suffer the biggest stock market in history, followed by another Great Depression-type event.
During a Republican event in New York in mid-Decmeber, President Trump said his campaign is on a “righteous crusade” to rescue the country from a “very corrupt political class” and criticized the establishment media for “waging an all-out war on American democracy … with one hoax, witch hunt, and abuse of power after another.”
He also mocked President Biden’s speech where the president said “MAGA extremists” needed to be stopped.
“Yeah, I’m extreme about making America great again,” President Trump said at the New York event.
“I’m running to liberate America,” he added.