Jamie Dimon says the next president needs to ensure the private sector has ‘a seat at the table’
Trump said he would consider Dimon for Treasury Secretary before recanting.
For someone who has not committed to taking on a political position, Jamie Dimon sure likes to spout his views on American democracy.
Without endorsing any one candidate, the CEO and chairman of JPMorgan Chase laid out his thoughts on how the next president can “restore our faith in America” in a Washington Post op-ed Friday. As the 67-year-old Dimon approaches the possible end of his term at the helm of JPMorgan, he called for “unity” in government but at the same time endorsed some controversial ideas.
One of his biggest focuses, as one might expect, was on business—namely, giving business leaders more influence and proximity to the most powerful position in government. The CEO noted that the government, in his opinion, has previously failed to engage with industry leaders. Instead, the next president should add business leaders to their cabinet.
“The private sector has huge wells of expertise and produces 85 percent of our nation’s jobs. It should have a seat at the table,” Dimon wrote.
In addition to business leaders, Dimon said the next president should also add politicians from the opposing party to help build what he thinks is the best kind of team: a team of rivals.
“The members of a president’s Cabinet and administration should reflect the entire nation,” Dimon wrote. “Tribal politics will not deliver the best talent and expertise across the political spectrum.”
Dimon’s comments come in the midst of a salient presidential race that has intensified since President Joe Biden decided not to run and Vice President Kamala Harris stepped up as the Democrats’ presumptive nominee. Former President Trump, for his part, has a 1 percentage point edge over Harris in the latest poll by the New York Times and Siena College.
As one of the most influential business leaders in finance, Dimon has often shared his views on economics, geopolitics, and government policy through interviews. Though rumors have circulated for years about Dimon’s possible involvement in politics, including a presidential run, the JPMorgan Chase CEO had repeatedly said he was not interested in leaving behind Wall Street for Washington D.C.
Yet, in a 2023 interview with Bloomberg Television, Dimon changed his tone, saying, “Maybe one day I’ll serve my country in one capacity or another.” Although he later walked back his comments, Trump told Bloomberg Businessweek in July that Dimon was somebody he would consider for Treasury Secretary.
Although Dimon had previously complimented Trump’s former cabinet member and Republican opponent Nikki Haley (for which he earned Trump’s scorn), the CEO said earlier this year that the former president was right on some issues, including immigration and the economy.
Dimon’s most recent “unity” message echoes his January comments to CNBC at Davos, where he called for Democrats to respect Trump supporters and gave credit to the former president.
“If you look at, just take a step back, be honest,” Dimon said. “He’s kind of right about NATO. Kind of right about immigration. He grew the economy quite well.”
