JPMorgan CEO Jamie Dimon wants to live in the White House, but he doesn't think it's going to happen.
In a conversation at the Economic Club of Washington DC, Dimon was asked by David Rubenstein, the head of the Economic Club, whether he would run for office.
"I would love to be president of the United States, but it's too hard and too late" replied Dimon.
See photos of Jamie Dimon
JP Morgan CEO Jamie Dimon speaks at a Remain in the EU campaign event attended by Britain's Chancellor of the Exchequer George Osborne (not shown) at JP Morgan's corporate centre in Bournemouth, southern Britain, June 3, 2016. REUTERS/Dylan Martinez
JPMorgan Chase Chairman and CEO Jamie Dimon speaks during a discussion on "Closing the Workforce Skills Gap", at the Aspen Institute in Washington December 12, 2013. REUTERS/Mike Theiler (UNITED STATES - Tags: BUSINESS POLITICS)
Jamie Dimon (C), Chairman and CEO of JPMorgan Chase, is questioned by journalists as he and other CEOs arrive at the White House in Washington October 2, 2013, for a meeting of the Financial Services Forum with U.S. President Barack Obama. REUTERS/Jason Reed (UNITED STATES - Tags: POLITICS BUSINESS)
Workers are reflected in the windows of the Canary Wharf offices of JP Morgan in London September 19, 2013. The "London Whale" trading scandal, once dismissed by JPMorgan Chase & Co CEO Jamie Dimon as a "tempest in a teapot," is costing the largest U.S. bank $920 million in penalties and a rare admission of wrongdoing. REUTERS/Neil Hall (BRITAIN - Tags: BUSINESS)
JPMorgan Chase & Co CEO Jamie Dimon testifies before the House Financial Services hearing on "Examining Bank Supervision and Risk Management in Light of JPMorgan Chase's Trading Loss on Capitol Hill" in Washington June 19, 2012. REUTERS/Yuri Gripas (UNITED STATES - Tags: POLITICS BUSINESS)
JP Morgan Chase and Company CEO Jamie Dimon answers a question at the U.S. Senate Banking, Housing and Urban Affairs Committee hearing on "A Breakdown in Risk Management: What Went Wrong at JPMorgan Chase?" on Capitol Hill in Washington, June 13, 2012. REUTERS/Larry Downing (UNITED STATES - Tags: POLITICS BUSINESS)
JP Morgan Chase and Company CEO Jamie Dimon pauses during a U.S. Senate Banking, Housing and Urban Affairs Committee hearing on "A Breakdown in Risk Management: What Went Wrong at JPMorgan Chase?" on Capitol Hill in Washington, June 13, 2012. REUTERS/Larry Downing (UNITED STATES - Tags: POLITICS BUSINESS)
JP Morgan Chase and Company CEO Jamie Dimon is surrounded by the media as he arrives to testify before the U.S. Senate Banking, Housing and Urban Affairs Committee hearing on "A Breakdown in Risk Management: What Went Wrong at JPMorgan Chase?" on Capitol Hill in Washington, June 13, 2012. REUTERS/Larry Downing (UNITED STATES - Tags: POLITICS BUSINESS)
Jamie Dimon, chairman and chief executive of JP Morgan Chase and Co, speaks during the Intrepid Sea, Air & Space Museum's Annual Salute to Freedom dinner in New York, May 24, 2012. REUTERS/Keith Bedford (UNITED STATES - Tags: SOCIETY BUSINESS)
Jamie Dimon, CEO and chairman of JPMorgan Chase & Co., poses for a portrait in his office in New York, in this photo taken December 22, 2010. At last week's World Economic Forum in Davos, Switzerland, Dimon once again lambasted the media and politicians for portraying all bankers as greedy evil-doers. It was at least the 12th time since the start of the financial crisis that Dimon has complained about Wall Street critics painting all bankers as cut from the same cloth. Photo taken December 22, 2011. To match Special Report JPMORGAN/DIMON REUTERS/Lucas Jackson (UNITED STATES - Tags: BUSINESS PROFILE POLITICS)
JPMorgan Chief Executive Jamie Dimon (R) is seen leaving a meeting with lawyer Davis Polk in New York January 13, 2011. Some of the United States' top bankers descended on a law firm in midtown Manhattan on Thursday to pitch for what could be one of the largest share sales in history -- a secondary offering for bailed-out insurer American International Group (AIG) Inc. REUTERS/Jessica Rinaldi (UNITED STATES - Tags: BUSINESS)
JP Morgan Chase CEO Jamie Dimon speaks during a session at the World Economic Forum (WEF) in Davos January 27, 2011. Organisers and CEOs at the annual Davos meeting projected cautious confidence in the global economy as the event opened on Wednesday, pointing to numerous risks which could yet derail a still-fragile recovery. REUTERS/Vincent Kessler (SWITZERLAND - Tags: POLITICS BUSINESS)
Chairman and CEO of JPMorgan Chase Jamie Dimon delivers a keynote address on "Global Banking and Regulatory Challenges" at the U.S. Chamber of Commerce in Washington March 11, 2009. REUTERS/Jim Young (UNITED STATES POLITICS BUSINESS)
JPMorgan Chase & Co. Chairman and Chief Executive Officer Jamie Dimon speaks at the 50th annual Investment Company Institute (ICI) general membership meeting in Washington May 8, 2008. REUTERS/Kevin Lamarque (UNITED STATES)
Bank One CEO Jamie Dimon speaks at the Seventh Annual Microsoft CEO Summit at the company's headquarters in Redmond, Washington on May 21, 2003. Dimon was one of more than 100 world business leaders that are attending the gathering for two days of dialogue and interactice sessions centered on the theme "The Agile Business: Balancing Strategy and Execution."
FILE - In this July 12, 2013, file photo, JPMorgan & Chase Co. Chairman and CEO Jamie Dimon is interviewed on the floor of the New York Stock Exchange. In an op-ed published Tuesday, July 12, 2016, in the New York Times, JPMorgan Chase said it will give raises to 18,000 tellers, customer service employees, and other workers over the next two years. In the op-ed, Dimon wrote that the bank will raise its minimum pay to a range of $12 to $16.50 an hour, depending on market and location factors. Its current minimum pay is $10.15 an hour. Dimon also wrote that the bank will invest more in training that helps workers get promoted to higher-paying positions. (AP Photo/Richard Drew, File)
IMAGE DISTRIBUTED FOR JPMORGAN CHASE CO. - JPMorgan Chase CEO Jamie Dimon visits Detroit on the one year anniversary of the firm's $100 million commitment to the city's revitalization, on Monday, May 18, 2015 in Detroit. (Photo by Rick Osentoski/Invision for JPMorgan Chase Co./AP Images)
FILE - In this Sept. 26, 2013 file photo JPMorgan Chase Chairman, President and Chief Executive Officer Jamie Dimon, arrives at the Department of Justice in Washington. Morgan Chase almost doubled Chairman and CEO Jamie Dimon's pay for 2013, the bank said on Friday, Jan. 24, 2014 that Dimon will receive total compensation of $20 million in 2013, consisting of $18.5 million in stock options and a base salary of $1.5 million. (AP Photo/Manuel Balce Ceneta, File)
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Dimon said that while the run of Republican candidate Donald Trump appeared to make it possible for a "businessman who had never held office before" to be successful in a run for office, the expectation of voters for a Presidential candidate to have served in office prior to taking over the White House would prevent him from winning.
Dimon said that "you have to join a party" and "be a Senator and Governor" first in order to qualify in voters' minds, which he does not plan to do.
He also cited former New York City Mayor Mike Bloomberg as an example of a businessman that made the same decision not to run for President.
Dimon also expressed his opinion on the current state of economic policy. On the monetary side, he said he thinks that Federal Reserve should raise interest rates. On the fiscal side, he believes there should be government stimulus, a decrease in the corporate tax rates, and easing of regulations.