Former Trump Economic Adviser Jamie Dimon Would Bet on a One-Term Presidency
Donald Trump a one-term president? A former high-level Trump economic adviser thinks so. Jamie Dimon doesn’t believe that Donald Trump will win another term as president, according to the candid views he expressed on Wednesday.
The JPMorgan Chase & Co. chief executive officer, speaking at a luncheon hosted by The Economic Club of Chicago, said he expects to see a new U.S. president in three years. In fact, Dimon would wager on it, “If I had to bet, I’d bet three and half. But the Democrats have to come up with a reasonable candidate … or Trump will win again.” (Source: “Jamie Dimon says he would bet on Trump being a one-term president,” CNBC, November 22, 2017.)
Advertisement
None of this should be surprising to readers. Despite being a key member of Trump’s Strategic and Policy Forum (since disbanded), Dimon has has criticized the president for various actions along the way.
For example, Dimon chastised Trump’s “Charlottesville” response by taking the liberal point of view. That is, that the violence emanating from the marches opposing the takedown of a statue of Robert E. Lee was the fault of “racist” conservatives. While Trump called out “both sides” for blame, Dimon begged to differ, stating “I strongly disagree with President Trump’s reaction to the events that took place in Charlottesville over the past several days.” He added, “Racism, intolerance and violence are always wrong.” (Source: “DIMON: I ‘strongly disagree’ with Trump’s Charlottesville reaction and supported disbanding his business council,” Business Insider, August 16, 2017.)
Dimon has also disagreed with Trump on other high-profile issues. These range from immigration policies (open vs. restrictive immigration), the North American Free Trade Agreement (NAFTA), and trade policy with China.
The issue of climate change has also been a personal sore spot for Dimon. In June, he voiced his displeasure about the administration’s decision to exit the Paris climate accord. Although he didn’t quit “Team Trump” at the time (unlike fellow elite CEOs Elon Musk and others), his ideological rift with Trump became public record. Said Dimon, “I absolutely disagree with the Administration on this issue.” (Source: “Jamie Dimon sticking by Trump despite Paris decision,” CNN Money, June 2, 2017.)
Jamie Dimon on the Trump Term
Now divested from his Trump advisory council commitments, Dimon now says he believes that 2021 will yield a Democrat president, but with a caveat. For this to happen, he says the Democratic Party must adopt a “pro-free enterprise” agenda for jobs and economic growth. (Source: CNBC, op cit.)
In other words, Democrats must adopt a hybrid “Make America Great Again” platform on economic issues in order to sway disaffected middle-class voters. Trump’s domination of this demographic is precisely what propelled him to power.
At this time, Democrats seem distant from this requirement, however. They appear to be more interested in race politics and “resistance” than focusing on sound economic policies. They still have plenty of time to re-jig their party agenda before the next presidential campaign begins in earnest. According to Dimon, it’s a critical requirement to seize power once again.
Will Donald Trump win a second term? Obviously, it’s way too early to predict. The Trump administration has produced solid results for the economy, and has slowed many progressive causes that are held in contempt by conservatives. But, on the flipside, the “Never Trump” movement continues to hammer away, portraying anything that Trump does in a negative light. Actual policy wins have been scant, and the country appears as polarized as ever.
That leaves the door open for Democrats to prevail, if they can just get their economic messaging down pat. Discovering this fact would be the biggest threat to a Trump second term in 2020.
