This story was originally published by the WND News Center.

What a difference a blowout caucus win makes.

After President Donald Trump was hammered for months by so-called experts in the financial and political world, one prominent voice is suddenly coming to his defense in the wake of Trump's crushing of his Republican opponents in Iowa Monday night.

Appearing Wednesday at the World Economic Forum in Davos, Switzerland, JPMorgan Chase CEO Jamie Dimon heaped praise on the former president's record while warning Democrats to be "more respectful" of Trump backers, saying Joe Biden's reelection bid hangs in the balance.

"I wish the Democrats would think a little more carefully when they talk about MAGA [Make America Great Again]," Dimon said on CNBC's "Squawk Box."

"I think this negative talk about MAGA is going to hurt Biden's election campaign," Dimon said.

He explained using the phrase "MAGA" incorrectly ties supporters of Trump to the former commander in chief's personality and character.

Democrats "are basically scapegoating them, [saying] that you are like him," Dimon said. "I don't think they're voting for Trump because of his family values."

CNBC noted Dimon "has donated to Democratic candidates but previously described himself as 'barely a Democrat.'"

Just two months ago, Dimon was praising Republican presidential candidate Nikki Haley, the former United Nations Ambassador in the Trump administration, who finished third in Iowa this week behind Trump and Florida Gov. Ron DeSantis.

Dimon on Wednesday also credited Trump for several of his key policy successes.

"Take a step back, be honest. 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."

"He wasn't wrong about some of these critical issues, and that's why they voted for him," Dimon said.

Regarding which candidate would benefit business more, Dimon indicated: "I have to be prepared for both. I will be prepared for both. We will deal with both."

"And I hope whoever it is will be respectful of other people," he added.