President Donald Trump's policies generally were "right" for the country, JP Morgan CEO Jamie Dimon said.
During a CNBC interview conducted Wednesday at the World Economic Forum in Davos, Switzerland, Dimon discussed the current U.S. economy and politics with the 2024 presidential election little more than nine months away.
He said that many Trump supporters are backing the former president because of his policies, not necessarily his personality.
"I wish the Democrats would think a little bit more carefully when they talk about MAGA," Dimon said on CNBC. "When people say MAGA they're actually looking at people voting for Trump … and basically scapegoating them, that 'you are like him'
"I don't think they're voting for Trump because of his family values. Just take a step back, be honest. He was kind of right about NATO, he was kind of right about immigration. He grew the economy quite well. Tax reform worked, he was right about some of China. I don't like how he said things about Mexico. But he wasn't wrong about these critical issues. That's why they're voting for him."
Dimon added that "people should be more respectful of our fellow citizens" and suggested to the CNBC hosts that they not just ask people whether they're supporting Trump, but also why.
"Not like it is a binary thing, you're supporting Trump or you're not supporting Trump," he said. "Why [are] you supporting Trump?"
Without being asked about MAGA specifically, Dimon ripped Democrats for their attack on Trump's supporters and said President Joe Biden's anti-MAGA obsession will hurt his reelection chances.
"The Democrats have done a pretty good job with the 'deplorables,' hugging on to their Bibles and their beers and their guns," Dimon said. "I mean, really? Can we just stop that stuff and grow up and treat other people with respect and listen to them a little bit.
"I think this negative talk about MAGA is going to hurt Biden's election campaign."
Dimon said he remains cautious on the U.S. economy over the next two years because of a combination of financial and geopolitical risks, CNBC reported.
"You have all these very powerful forces that are going to be affecting us in '24 and '25," Dimon said.
"Ukraine, the terrorist activity in Israel [and] the Red Sea, quantitative tightening, which I still question if we understand exactly how that works."
Quantitative tightening refers to moves by the Federal Reserve to decrease the amount of liquidity or money supply in the economy.
Charlie McCarthy ✉
Charlie McCarthy, a writer/editor at Newsmax, has nearly 40 years of experience covering news, sports, and politics.
© 2025 Newsmax. All rights reserved.