Davos: JPMorgan's Dimon Says Credit Card Cap Would Be 'Economic Disaster'

Watch on YouTube ↗  |  January 21, 2026 at 13:03  |  2:42  |  Bloomberg Markets
Speakers
Jamie Dimon — CEO, JPMorgan Chase

Summary

JPMorgan CEO Jamie Dimon speaks with Economist Editor-in-Chief Zanny Minton Beddoes at Davos about President Trump's proposed 10% cap on credit card interest rates. Dimon warns the cap would be an economic disaster, removing credit from 80% of Americans and drastically reducing credit card business. He predicts credit card companies would suffer most, along with restaurants, retailers, travel companies, schools, and municipalities due to missed payments. He suggests testing the policy in Vermont and Massachusetts and criticizes government involvement in pricing.

  • Jamie Dimon calls a 10% credit card rate cap an "economic disaster."
  • Dimon says the cap would remove credit from 80% of Americans.
  • He warns credit card companies and consumer-facing sectors would be hurt.
  • Dimon suggests testing the cap in Vermont and Massachusetts.
  • He criticizes extensive government involvement in pricing.
  • He notes broader bad policy history in housing, health, and immigration.
  • He mentions policy has driven half of companies out of public markets.
Ideas
Jamie Dimon CEO, JPMorgan Chase 0:09
Credit card cap would hurt card issuers.
A 10% cap on credit card rates would be an economic disaster because it would drastically reduce the credit card business and remove credit from 80% of Americans who rely on it as backup credit. This would hurt credit card companies the most, making them vulnerable under such a policy.
Credit card companies HIGH
Jamie Dimon CEO, JPMorgan Chase 1:00
Credit cap would hurt consumer-facing sectors.
A credit card rate cap that removes credit from consumers would also hurt restaurants, retailers, and travel companies because consumers would miss payments and have less spending capacity, making these consumer-facing sectors vulnerable if the policy is enacted.
Restaurants RETAILERS Travel companies MED
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This Bloomberg Markets video, published January 21, 2026, features Jamie Dimon discussing Credit card companies, Restaurants, RETAILERS, Travel companies. 2 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Jamie Dimon  · Tickers: Credit card companies, Restaurants, RETAILERS, Travel companies