JPMorgan's Dimon backtracks after saying he could beat Trump

Jamie Dimon Chairman and CEO of JPMorgan Chase & Co fields questions from Mellody Hobson president of Ariel Investments during a luncheon hosted by The Economic Club of Chicago

Jamie Dimon Chairman and CEO of JPMorgan Chase & Co fields questions from Mellody Hobson president of Ariel Investments during a luncheon hosted by The Economic Club of Chicago

Dimon, a lifelong Democrat, said he could beat Trump at a JP Morgan event on Wednesday, before quickly backtracking.

The confidence marks a sharp turn for Dimon, who, when asked about his political potential before the rise of the Trump administration, doubted he'd ever win election as a wealthy New Yorker.

After the inauguration, he said Trump had reawakened "animal spirits" in the U.S. Dimon has also praised the president's softer regulation and a tax policy that's generous to rich companies and people.

"The problem with banker Jamie Dimon running for President is that he doesn't have the aptitude or "smarts" & is a poor public speaker & nervous mess - otherwise he is wonderful", Trump tweeted Thursday morning. 'It wasn't a gift from Daddy'.

"I should not have said it", he said.

The bank will also make large-scale investments in cities where it sees opportunity to improve economic inclusion.

In addition to serving as head of JPMorgan, the biggest USA bank by assets, Dimon is also a big player in Washington, serving as chairman of the Business Roundtable, a Washington lobbying organization representing most of the biggest United States corporations.

Soon after his remarks on Wednesday, Dimon moderated them, emphasizing that he isn't running for president. (CNBC has the full transcript of his comments.) But within hours, the bank had sent out a statement, per Bloomberg: "I should not have said it", Dimon said.

Trump seems to be unphased by potential opponents in his bid for re-election, telling reporters gathered at the White House last week that "nobody is going to come close" to beating him in 2020. For example, Disney's Bob Iger resigned from it after the president withdrew the USA from the Paris Accords.

"Opportunity is not shared equally across neighborhoods", Dimon said a statement.

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