“Bidenomics” is one economic theory JPMorgan Chase CEO Jamie Dimon dismisses.

“I’d be careful about that,” Dimon says of President Joe Biden’s economic theory based on industrial subsidies and trillions in government stimulus spending, CNN reports.

That includes Biden’s $1.9 trillion American Rescue Plan and $891 billion Inflation Reduction Act. That spending is excessive and is the direct cause of inflation, Dimon says in an interview with The Economist.

Bidenomics, Dimon says, is largely industrial policy that subsidizes particular industries, such as manufacturing. The CEO of JPMorgan for nearly 18 years has never been in favor of such a policy in his life, but has recently supported some measures as they relate to national security and competitiveness.

“There shouldn’t be a policy around that,” Dimon says. “It shouldn’t be political. It should be purely economic.”

Dimon—who oversees America’s most successful bank, with a market capitalization of $435 billion—is also not partial to Bidenomics’ focus on the middle class and its rejection of trickle-down economics, or “Reaganomics,” as coined by President Ronald Reagan.

Tax Credits, Education

To boost social mobility, Dimon would expand earned-income tax credits and lower the cost of education.

“We need to do a better job with community colleges,” Dimon argues. “We should be making it cheaper, not more expensive.”

China is not a nation the U.S. and its business and political leaders should be so fearful of, Dimon maintains.

The Chinese are not “10 feet tall,” Dimon says, pointing out that America is the far more prosperous country. China continues to import oil, lacks food security, is poorer and has a weaker military, he says.

“Maybe they have caught up in a couple of areas, but the notion that somehow America has to be that afraid of China: We don’t.”

That said, the U.S. should be judicious about what it exports to China. “If it relates to supersonic missiles, I think we should do it,” Dimon says. “If it relates to holding down the Chinese people, I think we shouldn’t do it.”

What Would ‘Dimonomics’ Look Like?

It would appear that Dimon—whose opinions on public policy are sought by presidents and business leaders, and who’s known for his resolve, resources and ambition—has his eye on public office.

That’s one achievement Dimon quickly shoots down. “I have never really believed I am particularly suited for it,” he says. However, an appointment to the Treasury could an interesting possibility, he adds.

For now, “JPMorgan is the best contribution I can do,” Dimon insists. “We have 300,000 employees. We take care of them well, and we give them opportunities.”

As The Economist puts it: “A politician couldn’t have said it better.”