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JPMorgan Chase CEO Jamie Dimon wants to live in the White House, but he doesn’t think it will happen.
In a Monday conversation at the Economic Club of Washington, D.C., Dimon was asked by David Rubenstein, the head of the Economic Club, whether he would run for political office.
“I would love to be president of the United States, but it’s too hard and too late,” Dimon replied.
Dimon said that while the campaign of the real-estate mogul turned Republican nominee Donald Trump appeared to make it possible for a “businessman who had never held office before” to be successful in a run for the presidency, the expectation of voters for a presidential candidate to have served in office before taking over the White House would prevent him from winning.
Dimon said “you have to join a party” and “be a senator and governor” first to qualify in voters’ minds, which he does not plan to do.
He also cited Michael Bloomberg, the former New York City mayor, as an example of a businessman who opted not to run for president.
Dimon nevertheless seemed exasperated with the state of economic policymaking in Washington, saying the US didn’t need more “Democratic and Republican bulls—.”
At the same time, Dimon reiterated his view that the US remained the world’s strongest economy.
“America has the best hand ever dealt of any country on this planet today ever,” Dimon said.
He said that the US had geographical, economic, and military advantages over every other country and that Americans “don’t fully appreciate” that fact.
Dimon also expressed his opinion on the state of economic policy. On the monetary side, he said he thought the Federal Reserve should raise interest rates. On the fiscal side, he believes there should be government stimulus, a decrease in the corporate tax rates, and easing of regulations.
Dimon has frequently commented on macroeconomic events and policy, and the JPMorgan CEO’s name has long been floated as a possible candidate for Treasury secretary. Monday was the first time he had explicitly stated his desire to hold the highest office in the US.