JPMorgan CEO Jamie Dimon took a complimentary approach toward Donald Trump during the bank’s quarterly earnings call Friday, in stark contrast from just a month ago when the brash executive insulted the president and said he could beat him in an election.
Dimon said Trump’s negotiating tactics with China are moving things in the right direction and went so far as to predict a deal will be made. He even defended the president’s criticism of the Federal Reserve’s interest rate hikes, saying he had “never seen a president who wanted interest rates to go up.”
One month ago to the day Dimon was not as complimentary, saying “I think I could beat Trump” in an election. He also said he is just as tough and smarter than the president, also stating that his wealth was earned and not given to him by his father before quickly backtracking.
Trump fired back on Twitter, calling Dimon “a nervous mess.”
But Friday Dimon held a much different tone as JPMorgan kicked off its third-quarter earnings call, praising the economy while warning there could be tough times ahead.
“JPMorgan Chase delivered strong results this quarter with top-line growth in each of our businesses, demonstrating the power of our platform,” he said in a statement. “The U.S. and the global economy continue to show strength, despite increasing economic and geopolitical uncertainties, which at some point in the future may have negative effects on the economy.”
Dimon credited Trump’s corporate tax cuts for third-quarter revenues that topped $27.82 billion, higher than the $27.4 billion that was projected.
“We are extremely excited to be expanding again, as smart regulatory policy and a competitive corporate tax system help us to deliver on our commitment to invest in our customers and communities,” he said. “We just opened our first branch in Washington, D.C., which is one of hundreds of new branches that we will be opening in new markets, including Philadelphia and Boston. And every time we open branches in a new market, we bring the full force of JPMorgan Chase to that community.”
