JPMorgan CEO Jamie Dimon Says the U.S. Government Is ‘Not Very Competent’ and Hopes Elon Musk’s DOGE Is ‘Quite Successful’

By temporary On Feb 25, 2025 1 0

Now that JPMorgan Chase CEO Jamie Dimon and Tesla CEO and DOGE leader Elon Musk have repaired their relationship after years of litigation, Dimon is wishing Musk well on his new government endeavor.

When asked for his thoughts on DOGE and the agency’s effort to cut government waste on Monday by CNBC’s Leslie Picker, Dimon was upbeat.

“I’m hoping it’s quite successful,” Dimon said.

Musk is considered a “special government employee” who’s officially serving under President Donald Trump, according to the White House. “A special government employee is anyone who works, or is expected to work, for the government for 130 days or less in a 365-day period,” per the U.S. Department of Justice.

DOGE’s function is to eliminate government waste, fraud, and abuse, according to the agency.

“The government is inefficient, not very competent, and needs a lot of work,” Dimon said.

“It’s not just about the deficit, it’s about building the right policies and procedures and the government we deserve,” he added.

When asked if he supports the “chain-saw approach” DOGE is taking to the federal government, Dimon said this is something that has been tried before.

“Remember, it was tried by Al Gore and Bill Clinton. It was tried by a bunch of other folks in the past,” he said. “Yes, they should try.”

Watch the full video on CNBC, here.