JPMorgan Chase & Co. CEO Jamie Dimon on Tuesday expressed confidence in the strong U.S. economy, supported by strong employment and healthy consumer finance.
Dimon said in an interview at an Economic Club event in New York that the U.S. economic boom is “unbelievable.” “Even in a recession, consumers are still in good shape.”
Still, he warned of the potential economic impact of deficit spending, inflation and geopolitical conflict.
Mr. Dimon, who has run the nation’s largest financial institution for more than 18 years, warned that inflation could persist longer than expected and that interest rates could remain high for an extended period of time.
Turning to public policy, the 68-year-old said it would be better to have more “practical people” in government. His name is emerging in senior positions in the business world.
“I want to help my country,” Dimon, one of America’s most prominent executives, said in a wide-ranging interview with Marie-Josée Kravis, president emeritus of the New York Economic Club.
“I want whoever the next president is to have[legislators]from other parties in the cabinet. That’s what I want to see. I want practical people back in government.”
JPMorgan has previously declined to comment on such speculation or said it has no plans to run for Mr. Dimon.
At the event, the CEO discussed policy issues such as U.S. military power, political polarization, and the need for inclusive economic growth. He also compared the country’s economic performance and policies with those of other countries.
Dimon said the U.S. needs a more harmonious relationship between lenders and regulators.
He has previously criticized draft rules that would raise capital requirements for big banks, saying they would curb lending and stifle growth.
JPMorgan’s first quarter profit exceeded analysts’ expectations. Last year, we recorded record profits.
In his annual letter to shareholders this month, he praised America’s leadership and economic strength and called for “liberty and justice for all.”
