JPMorgan Chase CEO Jamie Dimon is calling for a decisive end to the conflict with Iran, saying the U.S. must "finish this thing" to protect the global economy and remove the threat to the region.
Dimon appeared on "Fox & Friends" Tuesday, saying American strength depends on decisive action in the Middle East and embracing the artificial intelligence revolution.
"It’s much more important that this be successfully completed than what the market does," Dimon said.
Threats to Middle East oil flows have added uncertainty to markets, as the United States, Israel and Iran continue to exchange strikes. On Tuesday, Iran struck an oil tanker off the coast of Dubai and continues to block shipments in the vital Strait of Hormuz.
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Dimon said Americans should be hoping the United States wins the latest conflict and acts to "clean up the straits," minimizing future threats to the U.S. and its allies.
"These people have been doing something bad for 47 years. They've been killing people. They've been killing Americans," Dimon said.
"I think people are surprised to find out they had a ballistic missile and go 3,000 miles. These are bad people, and they needed to be stopped," he added.
Dimon advocated for the country to "finish this thing," warning that if the U.S. fails to act, the cycle of threats will continue.
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Beyond the battlefield, Dimon noted that a vital part of U.S. security is embracing AI capability and fixing a lagging defense industrial base. He singled out the U.S.’s inability to double or triple its supply of rockets if needed, noting it is a major area of concern.
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Dimon discussed his $1.5 trillion Security and Resiliency initiative, which lends and invests money to companies researching areas tied to national security, including drones, space and rare earths.
He also spoke about the changes he sees on the horizon as the country adapts to the introduction of artificial intelligence. Dimon compared the AI shift’s importance to that of tractors and electricity.
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"AI, in the long run, is [going to] be unbelievable. Just like fertilizer was and tractors and the internet and electricity, it’s [going to] cure cancers," he said.
"My guess is our grandkids will be working three and a half days a week. They’ll live to 100. They won’t have all our diseases. That’s good," Dimon added.