Jamie Dimon Says President Trump’s Card Cap Would Spell ‘Economic Disaster’
January 21, 2026
11,913
155
82
1.99%
Search the Record
IndexedEvery word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
YouTube Description
as posted by the channelJPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said President Donald Trump’s proposal to cap interest rates on credit cards would spell economic disaster for the US, forcing banks to pull credit lines for the vast majority of Americans.
Trump earlier this month called for a one-year, 10% cap on credit card rates, setting a deadline of Jan. 20. The president has said his proposal is part of a broader push to reduce costs for Americans. With few details, banks and payment firms have been trying to ready themselves for any proposal that might come from the administration.
Speaking at the World Economic Forum in Davos, Switzerland, Dimon said his firm will give a “real analysis” of the proposal to the government, saying JPMorgan has already provided some thoughts on the idea, “but not a lot.”
“Our business, you know, we would survive it by the way,” Dimon said. “In the worst case, you’d have to have a drastic reduction of the credit card business.”
--------
Watch Bloomberg Radio LIVE on YouTube
Weekdays 7am-6pm ET
Follow us on X
Subscribe to our Podcasts:
Bloomberg Daybreak
Bloomberg Surveillance
Bloomberg Intelligence
Balance of Power
Bloomberg Businessweek
Listen on Apple CarPlay and Android Auto with the Bloomberg Business app:
Apple CarPlay
Android Auto
Visit our YouTube channels:
Bloomberg Podcasts
Bloomberg Television
Bloomberg Originals
Guests & Subjects Covered
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.