On stage at an event in New York, Dimon slammed Trump, saying he is as tough as the president, smarter, and a true self-made billionaire. In an interview with ABC News, Dimon said his comment came “out of frustration and a little of my own machismo, but I shouldn’t have said it,” adding, “it also proves I wouldn’t be a good politician.” He confirmed he has no current plans to run for office.
The interview was taped shortly after Dimon’s initial suggestion that he could beat Trump, but only aired on Sunday. In the interim, President Trump said on Twitter that Dimon wouldn’t be a good presidential candidate because he “doesn’t have the aptitude or ‘smarts’ & is a poor public speaker & nervous mess,” but added that the banker was otherwise “wonderful.”
This is the second time this year Dimon has had to quash rumors that he’s planning to run for president. Earlier this year, he attempted to put speculation to rest by saying he planned to stay at J.P. Morgan (JPM) for five more years.
Speaking to ABC, Dimon also gave some credit to Trump for the strength of the economy, saying his economic policies had improved confidence in the market. Still, he said it was impossible to tease out how much credit should go to Trump versus Obama, as Obama-era policies prevented the economy from getting worse. He said overall he would give Trump a B+ or A- for his handling of the economy.
Reflecting on the banking sector 10 years after the financial crisis, Dimon said the system is “very, very, very healthy,” and that regulators should take a “victory lap” because a collapse like the one that happened at Lehman Brothers wouldn’t happen today. He predicted that the next recession would not come from the banking sector.