By Simon Jack

Copyright bbc

Global security has been a recent focus for the JP Morgan boss, with his letter to shareholders earlier this year warning the US would run out of missiles in seven days of a South China Sea war.

Reflecting on how the world could combat risk factors, he pointed to greater military investment.

“People talk about stockpiling things like crypto, I always say we should be stockpiling bullets, guns and bombs.

“The world’s a much more dangerous place, and I’d rather have safety than not.”

Another risk factor which many in the global economy believe the US could be facing is pressure placed on the independence of the Federal Reserve, America’s central bank.

On this, he said he thought central bank independence was important – but was willing to take Trump “at his word” that he would not interfere in Fed independence, despite the president describing current Fed chair Jerome Powell as a “moron” and a “numbskull” for failing to lower interest rates more quickly.

Dimon acknowledged the US had become a “little less reliable” but said that some of the Trump administration’s action had pushed Europe to act over underinvestment in Nato and its lack of economic competitiveness.

Dimon also shared insights into a potential breakthrough in trade negotiations between India and the US.

He said he wanted to “bring India closer” and he believed a deal was close to reduce additional tariffs on India, which were imposed as a penalty for its continued trade with Russia, particularly its oil purchases.

“In fact, I’ve spoken to several of the Trump officials who say they want to do that, and I’ve been told that they are going to do that.”

Jamie Dimon’s name has been frequently mentioned among the big financial players capable of making a transition into politics.

Ahead of Trump’s re-election last year, influential investor Bill Ackman said he would be an “incredible choice” as treasury secretary, and he has also been the subject of speculation about a potential presidential run.

Asked about his political ambitions, Dimon said it “wasn’t on the cards”, and his focus was on keeping JP Morgan as a “healthy and vibrant company”.

“If you gave me the presidency, I’d take it,” he joked. “I think I’d do a good job.”