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Video: Major Bank CEO defends Trump, MAGA

Former President Donald Trump points to supporters during the Save America rally at the Mohegan Sun Arena at Casey Plaza in Wilkes-Barre, Pa., on Sept. 3, 2022. (Yong Kim/The Philadelphia Inquirer/TNS)
January 18, 2024

Jamie Dimon, CEO of JPMorgan Chase, called out Democrats for “scapegoating” supporters of former President Donald Trump and admitted that Trump “wasn’t wrong” about “critical issues” facing the United States during a recent panel at the World Economic Forum’s annual meeting.

Featured with a panel of speakers this week on CNBC’s “Squawk Box” during the World Economic Forum’s annual meeting in Davos, Switzerland, the JPMorgan CEO warned that while the stock market remains high at the moment, he has concerns regarding the economic future of the United States over the next couple of years.

After questioning the current stability of the U.S. economy, Dimon turned his attention to the importance of respecting American voters and called out Democrats who repeatedly bash Trump supporters. Dimon told CNBC’s panel, “I wish the Democrats would think a little more carefully when they talk about MAGA.”

“When people say ‘MAGA,’ actually they’re looking at people voting for Trump, and they’re basically scapegoating them, [saying] ‘You are like him,'” Dimon added. “But I don’t think they’re voting for Trump because of his family values,” Dimon continued. “Just take a step back, be honest. He was 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.”

While Dimon said he did not appreciate some of Trump’s previous comments regarding Mexico, he acknowledged that Trump “wasn’t wrong about some of these critical issues,” which the JPMorgan CEO said is why MAGA supporters are voting for the former president. Dimon suggested that Americans who disagree with Trump supporters should “be a little bit more respectful” of their “fellow citizens.”

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Doubling down on his criticism of Democrats disrespecting Trump supporters, Dimon said Democrats have “done a pretty good job” spreading negativity about Trump supporters by labeling half the country as “deplorables.”

“Can we just stop that stuff and actually grow up and treat other people [with] respect and listen to them a little bit?” Dimon asked. “I think this negative talk about MAGA is going to hurt Biden’s re-election campaign.”