The CEO of JPMorgan Chase & Co., Jamie Dimon, has criticized the United States’ immigration policies and outdated defense tech, warning of potential economic vulnerabilities.
What Happened: Dimon, at the Data + AI Summit 2025 in San Francisco last week, expressed his concern about the immigration policies of the U.S.
Dimon, who perceives immigration as a crucial factor for a thriving America, expressed his support for “merit-based immigration,” drawing examples from his Greek immigrant grandparents. He stressed the importance of a strong economy, underpinned by immigration, education and technological innovation, for preserving America’s essential role.
"People come here to be Americans, and it’s the natural thing, freedom of speech and freedom of enterprise and freedom," he added.
The CEO, who is known for his outspoken views, particularly on economic matters, also highlighted the potential risks the U.S. faces in a military context. He pointed out critical gaps in the country’s defense capabilities, such as a potential depletion of the missile stockpile in just seven days in a potential South China Sea conflict.
Furthermore, Dimon pointed out the potential obsolescence of traditional assets like aircraft carriers due to emerging technologies such as drones, calling for more agile procurement processes to keep up with these innovations. He criticized the lack of backup manufacturing for critical defense components and the shortage of skilled labor, including welders needed for building naval ships.
The JPMorgan CEO also enumerated several policies that America has not managed well. "We don’t do mortgage policies well, we didn’t do immigration policies well, we don’t do affordable housing policies well…we don’t teach work skills properly."
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Why It Matters: Dimon’s critique comes in the wake of President Donald Trump‘s directive to ICE to conduct “the single largest Mass Deportation Program in History,” targeting cities like Los Angeles, New York, and Chicago. These cities, labeled as “Democrat Power Centers,” were accused of using immigrants to “expand their Voter Base, cheat in Elections, and grow the Welfare State.”
Meanwhile, considering the critical role of the U.S. in the intensifying Israel-Iran conflict, the JPMorgan CEO’s comments on technological obsolescence in warfare is particularly notable.
Earlier in April 2025, Dimon had addressed President Trump’s trade policies in a private session with more than 500 investors. He had indicated that a mild recession might be the best-case outcome of the ongoing trade war.
Image via Shutterstock
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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