JPMorgan CEO Jamie Dimon believes the term 'ultra-MAGA' is insulting to a large group of people

• JP Morgan CEO Jamie Dimon railed against the term "ultra-MAGA" at Wednesday's NYT DealBook summit.
• "I think you're insulting a large group of people and then we're making assumptions," he said.

JPMorgan Chase chief executive Jamie Dimon warned liberals against using the term "ultra-MAGA" to describe pro-Trump conservatives, arguing that the phrase insults a large group of Americans.

Dimon made the comments on Wednesday during The New York Times's DealBook Summit in Manhattan, where he spoke of a need for people to listen to the political differences of others.

"We're in New York City, the bastion of liberal society. We should stop talking about 'ultra-MAGA,'" he told attendees during a conversation with Times columnist and DealBook editor-at-large Andrew Ross Sorkin. "I think you're insulting a large group of people and then we're making assumptions and scapegoating … where somehow these people believe in Trump's family values and supporting the personal person. I don't think that's true."

The term "ultra-MAGA," describing the most conservative adherents of Trump's Make America Great Again movement, has been popularized due to President Joe Biden's use of the phrase.

Dimon said voters who felt that they were better off under Trump's presidency often line up behind the former president due to their feelings over his stewardship of the economy and other larger issues.

The longtime financial executive then stated that Trump "wasn't wrong about China" and added that many of the former president's supporters were simply aligned with conservative policy stances — and called on people to remove themselves from ideological boxes.

"If you're a Democrat, read George Will. If you're a Republican, read Tom Friedman," Dimon said. "We should get out of this thing where it's one way or another."

"I'm not mad at people who are anti-abortion. If you believe in God and that conception starts at the moment of birth, you are not a bad person," he continued. "I think people need to stop denigrating each other all the time because people take a point of view that is slightly different than yours."

While speaking at the summit, Dimon, who's openly praised former UN ambassador Nikki Haley over the tenor of her 2024 presidential campaign, also encouraged Democrats to boost her in the Republican contest if they don't want to see Trump on the ballot again.

"Even if you're a very liberal Democrat, I urge you, help Nikki Haley, too," he said. "Get a choice on the Republican side that might be better than Trump."

Dimon said he was also prepared to work with Trump again as well.

"He might be the president. I have to deal with that, too," he said.