JPMorgan's Dimon on Soft Landing: 'I Wouldn't Count My Eggs'

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Bloomberg Sep 22 20:07 · 12.1k Views

"I wouldn't count my eggs," JPMorgan Chase CEO Jamie Dimon says about the prospects for a US soft landing.

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Transcript

  • 00:00 It's a lot of chatter,
  • 00:01 a lot more talk and hot breath.
  • 00:02 They did it.
  • 00:03 They should.
  • 00:03 I think they should have 50 basis points
  • 00:06 hopefully on the way to soft landing.
  • 00:07 I wouldn't count my eggs.
  • 00:09 And I think this one particular thing, all thing in Penn equal has almost no effect
  • 00:12 on the election.
  • 00:13 And this year we're in Seattle, in Omaha and Bentonville,
  • 00:16 Saint Louis.
  • 00:18 And you know, there's innovation, people working together.
  • 00:20 They're not obsessed with everything.
  • 00:22 People obsessed with in New York City, San Francisco and and DC
  • 00:26 and they're working together.
  • 00:27 I'm not angry at each other.
  • 00:28 They're building parks and trying to get jobs in place and they're trying to help the local community.
  • 00:32 So I do think it's a better attitude, collaboration, help people trying to make things better.
  • 00:36 I just saw
  • 00:37 Governor Whitmer, you know, trying to make Detroit better.
  • 00:40 You're not going to make these cities better if you yell at each other.
  • 00:42 You need and Mayor Duggan, who did a great job there.
  • 00:44 The governor did a great job there.
  • 00:46 They bring in business, not-for-profit, Civic Society, government, and they try to attack the problems.
  • 00:51 The problems are homeless streets,
  • 00:54 crime, schools, jobs,
  • 00:57 you know, health.
  • 00:58 And those are problems that those problems are not Democrat or Republican.
  • 01:01 And I so I'm,
  • 01:02 I just, I don't think people should be weaponized by
  • 01:04 those types of things.
  • 01:05 They should try to look at the problems and come up with a policy that actually works.
  • 01:08 Let me, let me ask you this about something you said that that Trump was good for business.
  • 01:13 One of your
  • 01:15 roles, the role of any CEO of a large company, a large bank especially,
  • 01:19 is to think about tail risk, right?
  • 01:22 Isn't it risky
  • 01:24 to have a president
  • 01:25 of the United States, risky to business, among other things,
  • 01:29 who doesn't adhere to democratic norms?
  • 01:33 I mean, doesn't the world look at us and think, wow, if they're so unstable as to have a January 6th event,
  • 01:39 maybe that's not great for business.
  • 01:40 I'm not going to comment about very specific things that
  • 01:43 he was probusiness and it was good for business.
  • 01:46 Yes, there are risks to all the things that happened for any kind of president.
  • 01:49 So I I agree with that concept and we look at all fat tails
  • 01:53 trying to make sure we can handle all of them.
  • 01:55 And you know we're not going to elect the president.
  • 01:57 You guys can elect the president.