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New York (CNN)Jamie Dimon isn't sold on "Bidenomics."
"I'd be careful about that," said Dimon, CEO of JPMorgan Chase, in reference to president Joe Biden's economic theory that rejects "trickle-down" policies in favor of focusing on the middle class.
The president claims that middle-class focus is the driving force behind the US economy's success, but Dimon's not convinced. "It's a tough question to answer," said the head of the nation's largest bank, when asked if Bidenomics is as successful as the president makes it out to be.
In an interview with The Economist released Tuesday, Dimon classified Bidenomics largely as industrial policy -- a strategy that specifically encourages or subsidizes particular industries, such as manufacturing. He said he's in favor of some industrial policy lately, for the first time in his life, but only as it relates to national security and competitiveness.
"There shouldn't be social policy around that," he said adding that "it shouldn't be political it should be purely economic."