JPMorgan’s CEO Puts Running for President Rumor to Rest

Jamie Dimon, the head of J.P. Morgan, sat down with Jim Cramer and put the rumor of him running for president to rest.

Dimon remarked to CNBC, “I don’t think I would be good at’ being president.” Recently Dimon had made remarks that he could beat President Trump in an election. He told Cramer in a “Mad Money” interview on Monday, “It was on my mind because people mentioned it, but it’s not what I want to do. I don’t think I would be good at it. I’m not a political person, per se.”

He added, “I think it’s probably too soon for a banker” to run for president.

“Remember, 85 percent of people work for business. If we don’t have the strongest economy on the planet, we won’t have the strongest military on the planet. If we don’t have the strongest economy, we won’t have jobs, wages, any of that or innovation,” Dimon said.

“I do think we need to work more on earned income tax credits, maybe a negative income tax to help lower-paid [people] have a living wage,” he remarked.

“Those are policy issues that eventually Washington will have to face,” Dimon added. “That’s why you see all the populism today, too, because people are saying, ‘Well, it worked for the big companies, but it didn’t work for us.’ And there’s some truth to that. There’s segments that it didn’t work for and I think business working with government and civic society, because you need people on the ground, local not-for-profits, could fix these issues that government can’t alone do and business can’t alone do.”

“I think political skills are real and they develop it over time and, you know, I think good policy, good administration, logic, facts, analysis, cost-benefit stuff, that’s not Democrat or Republican,” Dimon also said.

Disclaimer: We have no position in JPMorgan Chase & Co. (NYSE: JPM) and have not been compensated for this article.