09:46 AM EST, 01/21/2026 (MT Newswires) -- JPMorgan ( JPM ) Chief Executive Jamie Dimon said Wednesday that a 10% cap on credit card interest rates proposed by President Donald Trump would be an economic disaster, Reuters reported.

Dimon said at the World Economic Forum in Davos that the proposed measure "would remove credit from 80% of Americans, and that is their back-up credit," Reuters reported.

"People crying the most will not be the credit card companies; it will be the restaurants, retailers, travel companies, the schools, the municipalities," Dimon said, according to the Reuters report.

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