Jamie Dimon, chief executive officer of JPMorgan Chase & Co, on Wednesday said he expects to see a new U.S. president in 2021 and advised Democrats to come up with a “pro-free enterprise” agenda for jobs and economic growth.
Asked at a luncheon hosted by The Economic Club of Chicago how many years Republican President Donald Trump will be in office, Dimon said, “If I had to bet, I’d bet three and half. But the Democrats have to come up with a reasonable candidate … or Trump will win again” and have second four-year term.
Dimon, who in the past has described himself as “barely” a Democrat, has been going to Washington more often since the November 2016 election of Trump to lobby lawmakers on a range of business and economic issues, including changes in corporate taxes, immigration policies and mortgage finance.
In December, Dimon became chairman of the Business Roundtable, an association of CEOs who take their views to government policymakers.
Dimon, 61, touched briefly on range of topics, from America’s political climate and tax system to discrimination in the workplace and against black people.
He also commented on foreign affairs, saying, for example, “We should never be rude to a neighbor like Mexico.”
He also cautioned that the political weakness of German Chancellor Angela Merkel “is bad for all of us.” Talks on forming a governing coalition including Merkel’s Christian Democratic Union collapsed earlier this week, casting doubt on her future after 12 years in power.
Dimon is in his 12th year as CEO of JPMorgan, which is the biggest bank in the U.S. by assets.
(Reporting by Richa Naidu in Chicago; Additional reporting by David Henry in New York; Editing by David Gregorio and Jonathan Oatis)