JPMorgan Chase CEO Jamie Dimon has attributed President-elect Donald Trump‘s 2024 victory to his focus on “legitimate issues” that resonate with American voters.
In an interview with CBS News that aired Sunday morning, Dimon discussed economic inequality, inflation and job insecurity—noting that Trump’s messaging aligned with voter concerns.
Newsweek has reached out to the Trump transition team via email for comment.
Why It Matters
Trump’s win has been seen as marking a significant shift in American politics, as he became the first Republican president in 20 years to win the popular vote. The 2024 election saw a major realignment of voter demographics, with working-class and minority communities showing increased support for Trump. Analysts point to economic dissatisfaction, skepticism toward establishment politics, and shifting party coalitions as key reasons for his victory.
Dimon’s comments highlight the extent to which economic concerns played a role. Inflation, rising interest rates, and the cost-of-living were top priorities for voters. Pre-election polling consistently showed that Americans viewed the economy as their biggest concern, and Trump held an advantage among those who prioritized economic issues.

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What to Know
Dimon emphasized that voters were deeply affected by economic concerns and that Trump successfully spoke to those issues.
“People feel left behind,” Dimon told CBS News. “They look at their wages, they look at inflation, and they don’t feel better off. Trump, rightly or wrongly, spoke to that frustration.”
He also pointed to dissatisfaction with government policies. “If you ask people, ‘Are you better off than four years ago?’ a lot of them say ‘no,'” he said. “We need policies that support job growth, improve wages, and address the cost-of-living—those are things that matter most to people.”
Dimon further discussed tax policy and deregulation, saying, “Businesses want certainty. If Trump can provide that, you’ll see more investment and job creation.” He added that policies addressing energy independence and reshoring manufacturing jobs were major factors in Trump’s appeal to voters.
The CEO, who is estimated to be worth $2.5 billion by Forbes, said that he understands voters negative views of the country’s situation.
“I do understand it, ’cause I think there are a lot of legitimate concerns that Americans have. For example, ineffective government, they’re angry about it. They’re angry about immigration. There’re people with legitimate issues,” he said.
Among the biggest policy ideas floated by Trump is the extension of the 2017 Tax Cuts and Jobs Act (TCJA), which is currently due to expire in 2025. When it was first enacted under his stewardship in 2017, it created a single flat corporate tax rate of 21 percent, down from 35 percent under his predecessor Barack Obama. In an interview with Bloomberg, Trump said he wanted to cut the corporation tax rate further to 20 percent but also floated lowering it to 15 percent. “I liked 20 percent better,” he said. “I like 15 percent yet better, but I think that would be, you know, that’d be hard.”
Trump has also said he wishes to impose a universal baseline tariff on all U.S. imports as well as lifting current tariffs on China to at least 60 percent. According to CNBC, Trump floated the idea of eliminating income taxes and replacing the revenue with higher tariffs in a private meeting with GOP lawmakers last year. Analysts have raised concerns about this idea, suggesting it would raise prices for Americans and not work the way Trump has said.
What People Are Saying
President-elect Donald Trump wrote on Truth Social earlier this month: “We must Secure our Border, Unleash American Energy, and Renew the Trump Tax Cuts, which were the largest in History, but we will make it even better – NO TAX ON TIPS. IT WILL ALL BE MADE UP WITH TARIFFS, AND MUCH MORE, FROM COUNTRIES THAT HAVE TAKEN ADVANTAGE OF THE U.S. FOR YEARS. Republicans must unite, and quickly deliver these Historic Victories for the American People.”
Johns Hopkins historian Leah Wright Rigueur told Johns Hopkins University Hub on November 7: “The increasing polarization over the last four years, combined with an incumbent president stepping down mid-campaign, made this an uphill battle for Democrats.”
Wayne Steger, a political scientist at DePaul University, told PBS NewsHour on November 24 about the 2024 election results: “Inflation, immigration, and backlash against Democrats on cultural issues created a Republican-leaning environment.”
Democratic National Committee (DNC) spokesperson Aida Ross said in a Friday press release: “As Donald Trump pledges to enact a disastrous and expensive tax plan, new polling shows that Americans fear Trump’s agenda will hurt working families by raising costs and putting Social Security and Medicare at risk.”
What Happens Next
With Trump set to return to the White House, his administration’s policies on taxes, trade, immigration and regulations will be closely watched. His campaign promises included cutting interest rates, deregulating industries, and taking a harder stance on immigration. Analysts say that governing may prove more challenging than campaigning.
As Trump prepares for his second term, voters will be watching to see whether he delivers on the economic promises that propelled him back into office. For now, figures like Dimon suggest that Trump’s victory was less about rhetoric and more about real concerns facing the American people.