Jamie Dimon, the CEO of JPMorgan Chase, criticized the Trump administration’s immigration crackdown on Wednesday as Immigration and Customs Enforcement agents continued rounding up individuals who are in the country illegally.
″I don’t like what I’m seeing, five grown men beating up a little old lady,” Dimon told a panel at the World Economic Forum in Davos, Switzerland on Wednesday. “So I think we should calm down a little bit on the internal anger about immigration.”
It is unclear which specific incident Dimon was referring to.
According to CNBC, Dimon said he wanted to know more about the individuals being detained by ICE, asking: “Are they here legally? Are they criminals? … Did they break American law? We need these people.”
“They work in our hospitals and hotels and restaurants and agriculture, and they’re good people,” the 69-year-old head of the nation’s largest lender said. “They should be treated that way.”
Dimon also pushed the idea of the Trump administration offering a path to citizenship “for hardworking people” and “proper asylum” opportunities.
“I think he can, because he controlled the borders,” Dimon said.
When he was asked about other CEOs reluctant to criticize President Trump, the JPMorgan chief replied: “I think they should change their approach to immigration; I’ve said it. What the hell else do you want me to say?”
Dimon’s relationship with Trump has oscillated between pragmatic cooperation and public clashes, with Dimon at times praising Trump’s pro-business instincts while increasingly breaking with him on policy. Trump previously floated Dimon for senior economic roles, including Treasury secretary, before tensions emerged over banking regulation, the Federal Reserve, and immigration enforcement.
The rift deepened earlier this month after Dimon warned that a Justice Department probe into Jerome Powell could undermine the Federal Reserve’s independence, comments Trump dismissed as “wrong.” Dimon cautioned that political pressure on the Fed could drive up inflation expectations and interest rates.
JPMorgan Chase has also opposed parts of Trump’s economic agenda, including a proposed cap on credit card interest rates, warning it could restrict credit and disrupt the financial system. Most recently, Trump threatened to sue JPMorgan, accusing the bank of “debanking” him after Jan. 6 under pressure from Biden-era regulators.
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