JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon, fresh from a work trip overseas, unloaded on everything that’s holding U.S. businesses back.
“It’s almost an embarrassment being an American traveling around the world,” Dimon, 61, said on a conference call with analysts, noting he doesn’t like listening to the “stupid shit” Americans have to deal with. “There would be much stronger growth if there were more intelligent decisions and less gridlock.”
Dimon, speaking on an earlier call with reporters to discuss JPMorgan’s second-quarter results, said the media should focus on the major issues the nation faces rather than the vagaries of the firm’s Wall Street trading businesses. The biggest U.S. lender reported record profit despite its bond-trading franchise posting a 19 percent decline in revenue.
“The United States of America has to start to focus on policy which is good for all Americans, and that is infrastructure, regulation, taxation, education,” Dimon said. “Why you guys don’t write about it every day is completely beyond me. And, like, who cares about fixed income trading in the last two weeks of June? I mean seriously.”
Gridlock in Washington isn’t likely to harm U.S. growth rates because they are already muted by bad policy, Dimon said. In a follow up question, Dimon was asked by a reporter if he was frustrated with the Trump administration.
“No,” Dimon responded. “That was frustration with you.”
This article was provided by Bloomberg News.