J.P. Morgan Chase CEO Jamie Dimon on Wednesday said he regrets criticizing President Donald Trump after claiming earlier this morning that he could defeat the president in 2020 because he’s more intelligent.
Further, Dimon is in agreement with the president about the need to reduce regulation. “If you talk to anyone involved in business — forget banks and big business — talk to small businesses — do it yourself, don’t ask me — they’ll tell you it’s crippling,” said Dimon. Small-business formation is the lowest it has ever been in a recovery, and it’s really for two reasons. One is regulations and the second is access to capital for people starting new businesses.”
However, as Carney points out Dimon is “decidedly less Trump-ish,” on the issue of immigration. “Good people who have paid their taxes and haven’t broken the law, get them into citizenship at the back of the line,” the banker said. I think that can be worked out. If people get educated here, and they’re foreign nationals, get them a green card. I’ve even heard the president speak about that. There are things to do to make immigration work for all of America.”
JPMorgan is a notable proponent of the H-1B program and has asked for approximately 6,000 H-1B visas since 2014.
Democrat leader on Wall St asks CEOs to work with unions to raise wages, so preserving "workers’ confidence in the economic system." But Rubin opposes immigration reform to raise wages via a tight labor market. That's bad for Wall Street (and the party). https://t.co/mHz9ZzVoSG
— Neil Munro (@NeilMunroDC) March 6, 2018
During a July earnings call, the 67-year-old dismissed concerns of U.S. imposing tariffs on China and said trade war talk was more rooted in “psyche” than “economics.”