Jamie Dimon tips hat to Trump as JPMorgan profit surges
Jamie Dimon is singing a different tune.
One month since bragging he could beat Donald Trump in a presidential race, the JPMorgan Chase & Co. chief backed the White House on several fronts. On an earnings call with reporters Friday, Dimon passed up chance after chance to criticize Trump’s trade war, jawboning habit and temperamental relationship with his own Federal Reserve.
He complimented the administration’s "negotiating tactic" on China and predicted a trade deal. He said the relationship between big business and the White House is "active and good." And the same week Trump said the Fed had "gone crazy," Dimon said he had "never seen a president who wanted interest rates to go up."
Things have changed in the past month. "I think I could beat Trump," Dimon said at a September event that was supposed to celebrate his firm’s philanthropy. "I’m as tough as he is, I’m smarter than he is." A few hours later, Dimon backtracked completely -- which didn’t stop the president from firing back on Twitter, calling him “a nervous mess.”
Dimon’s latest tone is friendly. Even his quote atop the bank’s earnings statement included a shoutout: "We are extremely excited to be expanding again, as smart regulatory policy and a competitive corporate tax system help us to deliver," he wrote. "We just opened our first branch in Washington, D.C."
Dimon -- who also chairs the Business Roundtable, a corporate lobbying group -- has run hot and cold on Trump over the past two years. After the inauguration, he said Trump had reawakened “animal spirits” in the U.S., and he praised some policies in his most recent annual letter. But he’s also said the administration’s separation of children from parents at the U.S. border with Mexico was cruel.