J.P. Morgan Chase CEO Jamie Dimon on Wednesday said he regrets criticizing President Donald Trump after claiming earlier this morning that he could defeat the president in 2020 because he’s more intelligent.

“I think I could beat Trump,” Dimon told attendees during an event touting the bank’s philanthropic efforts. “Because I’m as tough as he is, I’m smarter than he is. I would be fine. He could punch me all he wants, it wouldn’t work with me. I’d fight right back.”
In another eye-brow raising swipe, Dimon also suggested President Trump isn’t the self-made billionaire that the real estate tycoon presents himself to be. “And by the way this wealthy New Yorker actually earned his money,” the banker added. “It wasn’t a gift from Daddy.”
In a statement released around noon, Dimon retracted his off-color remarks, blaming his comments on frustration from what he sees as a gridlocked political climate. “I should not have said it. I’m not running for president,” the statement reads. “Proves I wouldn’t make a good politician. I get frustrated because I want all sides to come together to help solve big problems.”
Aside from Wednesday’s comments, Dimon has previously offered high praise of President Trump’s pro-growth economic policies and once vowed to help the administration because he was a “patriot.”
In a May 2007 interview with Business Insider, Dimon declared “The Trump administration’s [economic] agenda is the right agenda.” Breitbart News’ John Carney noted Dimon’s comments were “remarkable” because of the banker is a lifelong member of the Democrat Party.

Further, Dimon is in agreement with the president about the need to reduce regulation. “If you talk to anyone involved in business — forget banks and big business — talk to small businesses — do it yourself, don’t ask me — they’ll tell you it’s crippling,” said Dimon. Small-business formation is the lowest it has ever been in a recovery, and it’s really for two reasons. One is regulations and the second is access to capital for people starting new businesses.”

However, as Carney points out Dimon is “decidedly less Trump-ish,” on the issue of immigration. “Good people who have paid their taxes and haven’t broken the law, get them into citizenship at the back of the line,” the banker said. I think that can be worked out. If people get educated here, and they’re foreign nationals, get them a green card. I’ve even heard the president speak about that. There are things to do to make immigration work for all of America.”

JPMorgan is a notable proponent of the H-1B program and has asked for approximately 6,000 H-1B visas since 2014.

During a July earnings call, the 67-year-old dismissed concerns of U.S. imposing tariffs on China and said trade war talk was more rooted in “psyche” than “economics.”