Jamie Dimon: My heart is Democrat, but mind is Republican

By Joe WilliamsBusiness LeadersFOXBusiness

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Rafferty chief financial strategist Dick Bove discusses how JPMorgan Chase CEO Jamie Dimon warned that the partial government shutdown may halt U.S. economic growth. Dick Bove also discussed President Trump’s attacks against the Federal Reserve over interest rate hikes.

JPMorgan Chase CEO Jamie Dimon, who previously said he would beat President Donald Trump in an election, is in the midst of his own political battle.

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“My heart is Democrat, but my brain is kind of Republican,” he told CNBC on Wednesday.


The comments come just months after Dimon swore off politics following claims in September that he could beat Trump in a presidential race.

“I’m as tough as he is, I’m smarter than he is,” Dimon, who in 2012 claimed he considered himself “barely” a Democrat, said at the time.

He later walked back the comments, but Trump still pounced and tweeted that Dimon “doesn't have the aptitude or “smarts” & is a poor public speaker & nervous mess.”

JPMJP MORGAN CHASE & CO.107.72+2.52+2.40%

Dimon's remarks also come as Democrats and Republicans continue to clash over how to reopen the federal government. The record 33-day lapse in funding is "harming the U.S. economy and American workers," the Business Roundtable, a group of top American executives that Dimon runs, said in a statement on Wednesday.

"The shutdown is also preventing policymakers from focusing on solutions to create strong, sustained economic growth in America. Finding a bipartisan solution will allow the country to move forward with an agenda to maximize opportunities for U.S. workers and support economic growth," the pro-business association said.

Running one of the top U.S. lenders, Dimon has an exclusive look into key economic metrics amid growing fears of a global recession spurred by a volatile stock market, concerns over an economic slowdown in China and an uncertain global trading environment.

He voiced confidence on Wednesday that 3 percent economic growth could be possible but only if the U.S. addressed issues like health care and immigration. Dimon previously told Fox Business the U.S. will “have decent growth” in 2019, and noted that retail and home improvement spending is “pretty good.”


“The consumer is in good shape and is continuing to grow,” he said. “I think the markets are overreacting to short-term sentiment around a whole bunch of complex issues.”

Chase missed Wall Street earnings expectations in the fourth quarter, but Dimon still earned $31 million in 2018, a 5 percent raise over the prior year.