"The Axios Show": Jamie Dimon defends Iran war as overdue
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JPMorgan Chase chairman and CEO Jamie Dimon told "The Axios Show" that while the ongoing Iran war involves some "short-term risks" for the economy, the country's regime has been a malign actor since its inception.
- "Having those folks, their [grip] on the Strait of Hormuz and funding all these proxy wars — why the Western world put up with these proxy wars for 45 years is kind of beyond me," Dimon told Axios CEO Jim VandeHei.
Why it matters: Those are strikingly hawkish comments from the leader of America's largest bank, making him one of the corporate world's most prominent defenders of a war that currently appears politically unpopular and economically damaging.
What he's saying: Dimon said critics who argue there was "no imminent threat" from Iran are simply saying "the bad thing hasn't happened" yet.
- "They've been killing people around the world for 45-plus years. They've killed a lot of Americans. They've funded Hamas, Hezbollah, the Houthis ... they have terrorist cells here," Dimon told Axios at his bank's new global headquarters at 270 Park Ave. in Manhattan.
Dimon said Iran "never gave up on nuclear" and had shown it had ballistic missiles with a range of nearly 3,000 miles.
- "They were bad," Dimon said of the Iranian regime, which remains in place despite the assassination of its supreme leader and many of his lieutenants.
The flip side: "Does it create all this uncertainty? Absolutely," he continued. "Does it create more short-term risk for oil prices? Absolutely. I'm praying it ends well."
- "I literally hope it turns out well and that somehow we get peace in the Middle East permanently," Dimon said.
The bottom line: Dimon argued that a successful outcome neutralizing the threat from Tehran would ultimately outweigh the current market turmoil — while acknowledging that outcome is far from certain.
Go deeper: Trump attacks allies, signals Iran war may end without opening Hormuz.
