JP Morgan Chase boss Jamie Dimon condemned the state of US politics on Friday, saying political gridlock is hurting the US economy.
JP also said the Americans must “get our act together” or risk warning themselves to 1.5 percent to 2 percent growth. He further said: “It would be much stronger growth had we made intelligent decisions and were there not gridlock.” And Mr. Dimon said it was “almost an embarrassment” at the moment to be an American citizen.
And the boss of the bank has put his efforts on the investment in roads, bridges and the other infrastructure and also called for the lower corporate taxes. His efforts works and the President Donald Trump made a promise to primacies those policies of him. But unfortunately, this promise and agenda have been disrupted by the conflict-of-interest issues and the investigation into his presidential campaign’s ties with Russia. And the other issue is that Republicans have been divided among themselves over health care reform, causing ambiguity in one of the largest sectors of the economy.
Mr. Dimon said that the Americans businesses are solid enough to remain to grow without advancement in Washington. He also took the US politicians to the task before. According to him the main problems or issues are needed to be fixed and these included infrastructure and education.
He said: “We have become one of the most bureaucratic, confusing litigious societies on the planet. It’s almost an embarrassment being an American citizen traveling around the world and listening to the stupid [stuff] we have to deal with in this country.” Mr. Dimon said he has been overseas in countries, including Israel, France, Argentina, Ireland, India, and China.
And he said about this: “It’s amazing to me that every single one of those countries understands that practical policies to promote business growth are good for the average citizens of those countries for jobs and wages. And somehow in the great American free enterprise system, we no longer get it.”
The America’s largest bank heads by Mr. Dimon. He made the comments as the firm stated a 13 percent year-on-year rise in trimester profit.