Jamie Dimon praises Trump, warns MAGA criticism could hurt Biden

JPMorgan Chase CEO Jamie Dimon on Wednesday praised former President Donald Trump‘s file and admonished Democrats to be “extra respectful” of Trump’s supporters, or else threat hurting President Joe Biden‘s reelection bid.

“I want the Democrats would assume a bit extra rigorously after they speak about MAGA,” Dimon mentioned on CNBC’s “Squawk Box,” referencing Trump’s supporters by the acronym of his “Make America Great Again” marketing campaign slogan.

Biden has warned that Trump and “MAGA Republicans” pose an existential threat to American democracy. But he has additionally tried to distinguish between Trump’s most hardline supporters and “mainstream Republicans,” who Biden says make up a majority of the get together.

“I believe this unfavorable speak about MAGA goes to hurt Biden’s election marketing campaign,” he mentioned from the World Economic Forum annual assembly in Davos, Switzerland.

Dimon argued that utilizing the phrase “MAGA” incorrectly hyperlinks Trump’s supporters to the previous president’s persona and character.

“[Democrats] are principally scapegoating them, [saying] that you’re like him,” Dimon mentioned. “I do not assume they’re voting for Trump due to his household values,” he mentioned.

The remarks by Dimon, who has donated to Democratic candidates however beforehand described himself as “barely a Democrat,” got here two days after the previous president trounced his few remaining Republican rivals within the Iowa caucuses.

In November, Dimon heaped reward on one in all Trump’s challengers, former United Nations Ambassador Nikki Haley, who completed third in Iowa on Monday.

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Dimon additionally gave Trump credit score for his coverage file.

“Take a step again, be sincere. He was type of proper about NATO, type of proper on immigration. He grew the financial system fairly properly. Trade tax reform labored. He was proper about a few of China.”

“He wasn’t mistaken about a few of these essential points, and that is why they voted for him,” Dimon mentioned.

Asked which candidate can be higher for his enterprise, Dimon mentioned, “I’ve to be ready for each. I will likely be ready for each. We will take care of each.”

“And I hope whoever it’s will likely be respectful of different individuals,” he added.

The White House didn’t instantly reply to CNBC’s request for touch upon Dimon’s remarks.

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