JPMorgan Chase CEO Jamie Dimon expressed confidence on Tuesday in a robust US economy backed by strong employment and healthy consumer finances.
The US economic boom is “unbelievable,” Dimon said in an interview at an Economic Club of New York event. “Even if we go into recession, the consumer’s still in good shape.”
Still, he warned about the potential economic impact of deficit spending, inflation and geopolitical conflicts.
Dimon, who has run the largest US lender for more than 18 years, has cautioned that inflation could be more persistent than expected, prompting interest rates to stay higher for longer.
Turning to public policy, the 68-year-old said the government would be better off with more “practitioners” at the table. His name has been floated for senior economic roles.
“I want to help my country,” Dimon, one of corporate America’s most prominent executives, said in a wide-ranging interview with Marie-Josee Kravis, chair emerita of the Economic Club of New York.
“I want the next president, whoever it is, to put the other party (members) in their cabinet. That is what I would like to see. I would like to see practitioners go back to the government.”
JPMorgan has previously declined to comment on such speculation, or said that Dimon had no plans to run for office.
The CEO discussed policy issues including US military power, political polarization and need for inclusive economic growth at the event. He also compared the nation’s economic performance and policies with those of other countries.
The US needs a more harmonious relationship between lenders and their regulators, Dimon said.
He has previously criticized draft rules to raise capital requirements for big banks, saying they would curb lending and stymie growth.
JPMorgan’s first-quarter profit beat analysts’ estimates. It posted record earnings last year.
He hailed US leadership and economic power in an annual letter to shareholders this month that invoked “liberty and justice for all.”
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