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Monday, JP Morgan Chase (JPM) CEO and President Jamie Dimon told CNBC that he saw two major risks to the US economy: the trade war in China and the end of the year. quantitative easing
. ] Closing Bell Dimon said that he and other business leaders had told the Trump administration that they disagreed with the tactics of raising tariffs on Chinese products, but the chairman "is obviously not in agreement with us." the dispute was to degenerate into a commercial war, it could erase the progress of the administration.
His other concern is the end of the practice by central banks around the world to buy billions of dollars of government bonds to consolidate the economy after 2008 crisis known as' quantitative easing "or QE. Dimon's concern is not so much the QE itself, but rather the lack of historical precedent for the current situation: "I do not want to scare the public, but we've never had of QE, we've never had the overthrow … "
Dimon knows one or two things about uncertainty as one of only two general managers still in business who ran their businesses during the financial crisis (the other is Lloyd Blankfein of Goldman Sachs (GS), who plans to resign this fall) .However, he remained broadly optimistic about the economy. A call with analysts at the beginning of the month, he cited employment rates, the consumption balance sheet, capital spending, household formation, residential construction and a sound banking system as indicators of the acceleration of growth
the first time that he waded d In June, he insisted on the Trump administration's policy of separating children from their parents at the border, saying that it was not only cruel but also bad for the government. # 39; s economy. There were even rumors that he could run against Trump in 2020, which he said he should be a term president. Dimon canceled those rumors earlier this year when he indicated his intention to stay at JP Morgan Chase for about five more years.
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