There was anxiety in the thin mountain air when the planet’s economic leaders gathered in January at Davos for the 54th meeting of the World Economic Forum. Donald Trump had just trounced Nikki Haley in the Iowa caucuses, all but securing the Republican nomination for president. Haley was reliable, a known quantity. A resurgent Trump, on the other hand, was more worrying.

The Davos attendees needed reassurance, and Jamie Dimon, the chairman and chief executive of JPMorgan Chase, had some to offer. In an interview with CNBC that made headlines around the world, Dimon praised Trump’s economic policies as president. “Be honest,” Dimon said, sitting against a backdrop of snow-dusted evergreens, dressed casually in a dark blazer and polo shirt. “He was kind of right about NATO, kind of right on immigration. He grew the economy quite well. Trade. Tax reform worked. He was right about some of China.” Asked which of the likely presidential candidates would be better for business, he opted not to pick a side.