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Jamie Dimon is often described as America’s most famous banker. The boss of JPMorgan Chase, a globe-spanning bank worth $422bn, has achieved every dream he has put his mind to in his 40-odd years in finance. Zanny Minton Beddoes, the editor-in-chief of The Economist, sat down with Mr Dimon in New York earlier this month. She tackled him on some of the biggest financial and geopolitical issues facing America today—and on his own political ambitions.

Mr Dimon’s world-view in 2023 is expansive: as well as finance (he thinks it is possible that America will face a recession soon), he is preoccupied with questions including the war in Ukraine and food security in Africa. When asked about rising tensions between America and China, he says open dialogue, and a “comprehensive” economic strategy to support America and its allies, are vital. “We don’t have to hold [China] down, we just have to protect ourselves,” he says. He accepts that the world is more dangerous than at any point in his lifetime, but argues that is no reason for America to shrink from its international responsibilities. When it comes to supporting Ukraine, he acknowledges that “of course you have ‘America first’ [...] but we’re doing this for America.”

That strikes a different tone from Donald Trump, who may yet win a second term in the White House. Mr Dimon does not relish the prospect: “I would worry about another Trump presidency.” Yet he is not full of praise for President Joe Biden, either. He tentatively supports some of Mr Biden’s industrial policy “for security reasons and competitive reasons”, but describes himself as a free-marketeer. And he is critical of the “$5trn of excess fiscal spending over two years, some to counter covid but far more in excess of that, [which] is causing inflation”. But Mr Dimon says he has no presidential ambitions: “I’ve never really believed I’m suited for it,” he says. Yet he could see himself serving in an administration, even if “it’s not on the cards right away.” For now he says that running JPMorgan Chase is the most useful thing he can do for his country: “That’s my contribution.”