Reports from the New York Times suggest JPMorgan Chase & Co. (JPM) CEO Jamie Dimon is privately supporting Vice President Kamala Harris while potentially considering a position in her administration if offered. Nobel laureate and New York Times Op-Ed columnist Paul Krugman joins Catalysts to discuss what a Dimon transition into a cabinet role, like the Secretary of Treasury, would look like.

Krugman acknowledges Dimon as a "great businessman" but expresses skepticism about his potential effectiveness as Treasury Secretary, emphasizing that the role "requires a quite different set of skills."

"This is a repeated delusion," Krugman says, "we tend to assume that if you make a lot of money you can be great at other things and that is clearly just not the case."

Earlier this week, billionaire entrepreneur Mark Cuban told Yahoo Finance that he believes Dimon would "do an amazing job" as a potential Treasury Secretary.

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This post was written by Angel Smith