Failed 2016 Democratic presidential nominee Hillary Clinton said Wednesday that openly identifying as a capitalist “probably” hurt her electoral chances because a growing number of Democrats align with socialism.

“It’s hard to know, but if you’re in the Iowa caucuses and 41 percent of Democrats are socialists or self-described socialists, and I’m asked are you a capitalist, and I say yes, but with appropriate regulation and appropriate accountability, that probably gets lost in the ‘Oh my gosh, she’s a capitalist,'” Clinton said at the 2018 Shared Value Leadership Summit in New York City.