Intended or not, JPMorgan Chase CEO Jamie Dimon gave President Trump’s 2020 reelection effort a major boost during a “60 Minutes” interview aired on Sunday night.
Dimon said that the U.S. economy is going strong, calling the Trump economy “the most prosperous economy the world has ever seen.”
And President Trump took to Twitter early on Monday to thank the billionaire business executive.
“The Chinese say (about Trump’s Trade War & Tariffs), ‘he brought us to the table.’ This is the most prosperous economy the world has ever seen, and it’s going to be a very prosperous economy.’ Jamie Dimon on @60Minutes Thank you President Trump & the Republican Party!” the president tweeted.
“The Chinese say (about Trump’s Trade War & Tariffs), ‘he brought us to the table.’ This is the most prosperous economy the world has ever seen, and it’s going to be a very prosperous economy.” Jamie Dimon on @60Minutes Thank you President Trump & the Republican Party!
— Donald J. Trump (@realDonaldTrump) November 11, 2019
Exuding negativity, CBS host Leslie Stahl pointed to a few economic setbacks to ask Dimon what he foresees.
“The stock market is going through the roof, and yet manufacturing production is down over the past year. Wage growth is slowing,” Stahl said. “So when you look at the state of the economy right now, what do you see? Do you see strength? Do you see petering out?”
“The consumer, which is 70 percent of the U.S. economy, is quite strong. Confidence is very high,” Dimon answered. “Their balance sheets are in great shape. And you see that the strength of the American consumer is driving the American economy and the global economy.”
“And while business slowed down, my current view is that, no, it just was a slowdown, not a petering out,” he added.
When pressed about sounding “pretty optimistic” about the economy, Dimon replied, “Yeah, well, I am.”
Getting in a subtle dig at Trump, Stahl noted that the world is”more unpredictable than usual.”
When Dimon responded to say the world’s always been “hugely unpredictable,” the “60 Minutes” host countered to ask, “Why does it feel as if we were in a particularly uncertain time?”
“Human nature looks at fear and reacts to the short run,” he said. “But again there’ve been like 50 or 60 international crises since World War II. Only one really affected the global economy in the short run.”
That being the 1973 oil crisis.
Dimon went on to predict long-term prosperity for America.
“This is the most prosperous economy the world has ever seen, and it’s going to be a very prosperous economy for the next 100 years,” Dimon said.
The focus shifted to Trump’s trade war with China, but here too Dimon was optimistic.
“I’ve been in China and the Chinese will say he brought us to the table,” he said.
Stahl likened tariffs to “a bomb that you detonate and the problem is it falls on you.”
Dimon said the trade issue with China has to be resolved, but added “this is not going to war.”
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