Published: Fri, September 14, 2018
Money | By Ralph Mccoy

Jamie Dimon backtracks on claim that he could beat Trump

Jamie Dimon backtracks on claim that he could beat Trump

J.P. Morgan Chase Chief Executive Officer Jamie Dimon is the latest person to say that they could defeat Donald Trump in an election, claiming that he's "smarter" and just as "tough" as the president.

"I think I could beat Trump", Dimon said at an event in NY on Wednesday, according to a transcript posted by CNBC.

But Dimon, a lifelong Democrat, also added that he could not win an election due to the "liberal side" of the Democratic Party.

The Republican president, known for his acerbic insults on Twitter, was hitting back at Dimon for saying on Wednesday that he was smarter than Trump and could beat him in a White House race. 'It wasn't a gift from Daddy'. "I'm not running for president", the CEO said about an hour after the original exchange. He added that the remarks proved he wouldn't make a good politician adding that he got frustrated because he wanted all sides to come together to solve big problems.

'I grew up in a poorer part of Queens than he did, but I am a banker.

The group has praised Trump's moves to cut taxes and reduce regulation, but has criticized the administration's trade and immigration policies and completely avoided direct criticism of the president himself.

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Mr. Dimon immediately walked those comments back and said he isn't running for the country's top office. Dimon later expressed remorse for the comments.

Dimon said earlier this year he will lead JPMorgan until 2023.

"I think I could beat Trump", Dimon said.

JP Morgan Chase is the largest USA bank by assets.

He's been asked repeatedly whether he intends to run for president in 2020, but consistently demurs. He also holds a substantial amount of JPMorgan stock, which has risen in price by 25 percent over the last year and doubled during the last five years.

"You can't take yourself off the playing field", Dimon said.

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