At the World Economic Forum in Davos, JPMorgan Chase CEO Jamie Dimon, a consistent advocate for immigration reform, expressed his dissatisfaction with the current approach to immigration enforcement in the United States.
Although Dimon has typically refrained from openly criticizing the current administration, he took issue with the conduct of U.S. Immigration and Customs Enforcement (ICE), describing their actions as excessively harsh.
“It troubles me to see situations where several officers are physically confronting an elderly woman,” Dimon remarked. “We need to ease the intense emotions surrounding the immigration debate.”
He also questioned the background of individuals targeted in ICE operations, expressing a desire to understand whether those apprehended were undocumented or had committed other offenses.
“These individuals are essential to our workforce,” Dimon stated. “They contribute to our hospitals, hotels, restaurants, and farms. They are valuable members of our communities and deserve to be treated with dignity.”
Dimon’s criticisms extended beyond immigration enforcement. He also raised concerns about a proposed temporary cap on credit card interest rates at 10%, warning that such a measure could trigger significant economic challenges, including the possibility that banks might reduce access to credit for many consumers.
“Our company would manage to adapt,” Dimon explained. “But in a worst-case scenario, the credit card sector would face severe cutbacks.”
While Dimon has generally supported many of former President Trump’s policies—praising efforts to strengthen border security and address trade imbalances—he has also acknowledged that the initial rhetoric around tariffs was “too intense and aggressive.” Nonetheless, he previously urged audiences at Davos to move past concerns about tariffs.$XRP
