Jamie Dimon comments on Trump’s victory, and the policies his administration should focus on

JPMorgan Chase CEO Jamie Dimon He explained the factors he saw as leading to President-elect Donald Trump’s electoral victory over Vice President Kamala Harris in an interview released this weekend.

Damon was interviewed by CBS correspondent Lesley Stahl “CBS Sunday Morning News” He said he saw frustration among American voters about government policies and the issues that political leaders focused on.

“People were angry about what they called the state—the ‘swamp.’ Ineffective government wanted more Pro-growth and pro-business policies, they did not want to be constantly lectured about social policies. I think that’s the lecture part of it. It’s social superiority, it’s “my way or the highway.” I traveled all over the country. “I felt it everywhere I went,” Damon said.

Stahl asked Dimon if he understood that there was a “feeling of pessimism about the economy.”

Ford CEO believes Trump and Musk want to ‘strengthen’ the US auto industry

“I understand that,” Damon replied, “because I think there are a lot of legitimate concerns that Americans have.” “For example, the ineffective government, they’re angry about that. They’re angry about immigration. There are people who have legitimate issues.”

tape	protection	last	It changes	% changes
JBM	JPMorgan Chase & Co	244.21	+4.30	+1.79%

Damon went on to say that inflation and the disconnect between government policy priorities and the results of those policies in rural communities add to this frustration.

“It was inflation, and it was all the money that was being given out. If you go to a rural area, and you look at all the things that have been done, those things like even EV credits, all that green stuff. They’re not doing it.” “Look at it as if they didn’t have jobs yet, their income wasn’t going up, and their schools weren’t working,” he explained. “So you have to be very careful when you analyze what’s happened in our society about why people looked at these things and said, ‘This doesn’t work for me.’”

Elon Musk says company will ‘try’ to meet its goal of $2 trillion in cuts, but admits it may fail

In part of the extended interview with CBS, Damon said as much Government bureaucracy It burdens small businesses and contributes to pessimism about economic opportunities, as well as frustration with government agencies.

“Everyone who deals with the federal government, especially small businesses, knows that bureaucracy is extraordinary. We all laugh at it now. ‘I can’t get permits, I can’t get certificates of occupancy, I can,'” he explained. “If you understand this, “This rule says don’t do that, people won’t have to go to work anymore.”

“All of these things have to change,” Dimon said. “I think they lead to low morale and anger toward the government, so they have to be fixed. The government needs to show its competence.”

Dimon was asked what policy advice he would give Trump during his second term, and he pointed to immigration reform and border security.

“Get immigration and border security right and then get immigration right after that – Legal immigration. Immigration required. “Whether it’s seasonal workers, whether it’s H-1B visas, which I think most people kind of agree with,” he explained.

Walmart CEO Doug McMillon meets with Trump about US trade and investment relations

Stahl asked Dimon if there was anything “out of the ordinary” about the American economic system, given that higher-income Americans are seeing their wealth increase.

“I think you have to be very careful to say: What is going on that is out of control?” “You want a healthy economy, a really healthy economy that lifts up all citizens, and you want to help all Americans grow the economy, and that’s not going to grow the economy,” he explained. “And if there are some unfair things that created some of that wealth, they need to be fixed.”

“If I were king for a day, I would probably change a bunch of things Tax lawsAlso, which I won’t give you details about. “It’s not going to lower it as much as you think it should be lowered,” Damon said. “I think the wrong part is that the bottom 30% of income didn’t do better, not that the top 0.1% did well.”

Get FOX Business on the go by clicking here

the CEO of JPMorgan He made a specific tax policy proposal and said he would double the earned income tax credit, which supplements the income of low- to moderate-income working families. “This alone would put more money in the pockets of low-income working people, and it would go into their communities and families,” he said.