At the World Economic Forum in Davos, Switzerland, JPMorgan Chase CEO Jamie Dimon voiced multiple criticisms of the current administration, specifically criticizing Trump’s approach to the economy and immigration policies.
Dimon stated that the United States is now “less reliable” as a global ally under President Trump’s administration.
When asked whether he agrees with Canadian Prime Minister Mark Carney’s view that there’s been a “rupture in the world order,” Dimon replied, “It’s not a rupture. If you said to me, ‘has America become unreliable?’ No. It’s just, you had total reliance, and now it’s less reliable.”
Dimon also criticized President Trump’s recent proposal to impose a 10 percent cap on credit card interest rates. “It would be an economic disaster,” he said, “and I’m not making that up because our business… we would survive it by the way.”
“You have to have a drastic reduction of the credit card business. I mean drastic.”
Dimon added: “The people crying the most won’t be the credit card companies, it will be the restaurants, the retailers, the travel companies, the schools, the municipalities because people will miss their water payments.”
JPMorgan Chase’s CEO noted that he plans to present the Trump administration with a more comprehensive analysis of the policy’s effects.
While participating in a panel at the World Economic Forum, Dimon seemingly referenced videos showing U.S. Immigration and Customs Enforcement officers detaining individuals believed to be undocumented immigrants.
″I don’t like what I’m seeing, five grown men beating up a little old lady,” Dimon said. “So I think we should calm down a little bit on the internal anger about immigration.”
Referring to ICE raids, Dimon asked, “Are they here legally? Are they criminals? … Did they break American law?”
“We need these people,” Dimon added. “They work in our hospitals and hotels and restaurants and agriculture, and they’re good people .… They should be treated that way.”
By CEO NA Editorial Staff
