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JPMorgan Chase CEO Jamie Dimon on Wednesday praised former President Donald Trump’s document and admonished Democrats to be “extra respectful” of Trump’s supporters, or else danger hurting President Joe Biden’s reelection bid.
“I want the Democrats would assume somewhat extra fastidiously once they discuss MAGA,” Dimon mentioned on CNBC’s “Squawk Field,” referencing Trump’s supporters by the acronym of his “Make America Nice Once more” marketing campaign slogan.
Biden has warned that Trump and “MAGA Republicans” pose an existential menace to American democracy. However he has additionally tried to differentiate between Trump’s most hardline supporters and “mainstream Republicans,” who Biden says make up a majority of the occasion.
“I believe this adverse discuss MAGA goes to harm Biden’s election marketing campaign,” Dimon mentioned from the World Financial Discussion board annual assembly in Davos, Switzerland.
Dimon argued that utilizing the phrase “MAGA” incorrectly hyperlinks Trump’s supporters to the previous president’s persona and character.
Democrats “are principally scapegoating them, [saying] that you’re like him,” Dimon mentioned. “I do not assume they’re voting for Trump due to his household values,” he mentioned.
The remarks by Dimon, who has donated to Democratic candidates however beforehand described himself as “barely a Democrat,” got here two days after the previous president trounced his few remaining Republican rivals within the Iowa caucuses.
In November, Dimon heaped reward on certainly one of Trump’s challengers, former United Nations Ambassador Nikki Haley, who completed third in Iowa on Monday.
Dimon additionally gave Trump credit score for his coverage document.
“Take a step again, be trustworthy. He was form of proper about NATO, form of proper on immigration. He grew the economic system fairly properly. Commerce tax reform labored. He was proper about a few of China.”
“He wasn’t unsuitable about a few of these vital points, and that is why they voted for him,” Dimon mentioned.
Requested which candidate could be higher for his enterprise, Dimon mentioned, “I’ve to be ready for each. I can be ready for each. We are going to take care of each.”
“And I hope whoever it’s can be respectful of different individuals,” he added.
The White Home didn’t instantly reply to CNBC’s request for touch upon Dimon’s remarks.
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