15. LIFE ON LAND

JPMorgan Chase CEO Jamie Dimon Hints at Political Ambitions

J.P. Morgan Chase CEO Jamie Dimon said he loves his job but has considered running for public office.

Asked in an interview if he had ever considered doing so, Dimon told Bloomberg Television Wednesday (May 31): “I love my country, and maybe one day I’ll serve my country in one capacity or another. But I love what I do. I think J.P. Morgan [does] a great job for helping Americans, helping countries around the world, and this is my job.”

There has long been speculation that Dimon could enter politics because he has often spoken out about U.S. public policy, Bloomberg reported Wednesday.

Dimon said in 2018 that he could beat President Donald Trump in an election, but added later in the day that he was not running for president, the report said.

He has been the head of J.P. Morgan since 2005 and has said he plans to remain there for another five years, per the report.

During the Wednesday interview, Dimon also told Bloomberg Television that he is optimistic that Congress and the president will reach a deal on the debt ceiling.

“Obviously, it’s going to get through a couple of votes in Congress, and our people are pretty comfortable it will happen,” Dimon said.

Dimon also said that people should expect the Federal Reserve to raise rates again and that volatility will follow.

“My simple view is that it’s right to pause at this point,” he said. “It’s been a big increase of 500 basis points or so — take a pause. But I do think it’s possible they’re going to have to raise a little bit more. The inflation is kind of stickier. I think people are coming around to that, which means rates may have to go up a little more. People should be a little prepared for that.”

It was reported earlier this month that Federal Reserve officials seem more divided than ever on whether more interest rate hikes are needed.

With the regulator’s next meeting scheduled for June 13-14, some officials seem to be leaning toward pausing any further hikes, while others favor continuing the Fed’s credit-tightening campaign because the fight against inflation is not yet over.

Source: pymnts.com

J.P. Morgan Chase CEO Jamie Dimon said he loves his job but has considered running for public office.

Asked in an interview if he had ever considered doing so, Dimon told Bloomberg Television Wednesday (May 31): “I love my country, and maybe one day I’ll serve my country in one capacity or another. But I love what I do. I think J.P. Morgan [does] a great job for helping Americans, helping countries around the world, and this is my job.”

There has long been speculation that Dimon could enter politics because he has often spoken out about U.S. public policy, Bloomberg reported Wednesday.

Dimon said in 2018 that he could beat President Donald Trump in an election, but added later in the day that he was not running for president, the report said.

He has been the head of J.P. Morgan since 2005 and has said he plans to remain there for another five years, per the report.

During the Wednesday interview, Dimon also told Bloomberg Television that he is optimistic that Congress and the president will reach a deal on the debt ceiling.

“Obviously, it’s going to get through a couple of votes in Congress, and our people are pretty comfortable it will happen,” Dimon said.

Dimon also said that people should expect the Federal Reserve to raise rates again and that volatility will follow.

“My simple view is that it’s right to pause at this point,” he said. “It’s been a big increase of 500 basis points or so — take a pause. But I do think it’s possible they’re going to have to raise a little bit more. The inflation is kind of stickier. I think people are coming around to that, which means rates may have to go up a little more. People should be a little prepared for that.”

It was reported earlier this month that Federal Reserve officials seem more divided than ever on whether more interest rate hikes are needed.

With the regulator’s next meeting scheduled for June 13-14, some officials seem to be leaning toward pausing any further hikes, while others favor continuing the Fed’s credit-tightening campaign because the fight against inflation is not yet over.

Source: pymnts.com

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Amanda

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