JPMorgan Chase CEO Jamie Dimon said on Monday that the US government was ineffective and needed work because the Trump administration ends thousands of federal employees and is working to dismantle agencies, including the consumer financial protection office.
Dimon was invited by Leslie Picker of CNBC if he supported the efforts of the Elon Musk advisory body, the government’s Ministry of Efficiency. He refused to give what he called a “binary” response, but made comments that supported the overall effort.
“The government is ineffective, not very competent and needs a lot of work,” said Dimon in Picker. “It’s not just waste and fraud, these are the results.”
The Trump administration’s efforts to curb expenses and examine federal agencies, ”should be made,” added Dimon.
“Why do we spend money for these things? Let’s bring what we deserve? What should we change?” Said Dimon. “It is not only a question of the deficit, the creation of good policies and procedures and the government that we deserve.”
Dimon said that if Doge exceeds cost reduction efforts or initiates activities that are not legal, “the courts will arrest him”.
“I hope it succeeds quite,” he said.
In the vast interview, Dimon also addressed the push of his business to have most of the workers in power five days a week, as well as his opinions on the Ukrainian conflict, the prices and the American consumer.
