“American Spirit” Ignited, US Business & Consumer Confidence Running High

“American Spirit” Ignited, US Business & Consumer Confidence Running High

“American Spirit” Ignited, US Business & Consumer Confidence Running High


Jamie Dimon, 60 anni, said President Trump’s economic agenda has ignited US business and consumer confidence and he expects at least some of the administration’s proposals to be enacted.

“It seems like he’s woken up the animal spirits,” Mr. Dimon, Chairman and CEO of JPMorgan Chase & Co.(NYSE:JPM), said Thursday in TV interview in Paris.

Confidence has “skyrocketed because it’s a growth agenda,” Mr. Dimon said, adding that he’s not overly concerned about the possibility of a correction in equities markets, which have surged since the November Presidential election.

Mr. Dimon has been a vocal supporter of President Trump’s business agenda, saying last month that the US has a bright future if the President overhauls taxes, regulations and infrastructure investment.

Since Donald Trump’s victory, Mr. Dimon was named chairman of the Business Roundtable of almost 200 CEOs and joined President Trump’s policy forum aimed at boosting job growth.

Shares of US banks have climbed on speculation that higher economic growth and interest rates will boost results.

“If he gets it done, even part of it, it will be good for growth, good for jobs, good for Americans,” Mr. Dimon said. “I’m really confident he will get that done.”

Mr. Dimon said he is reassured because of the caliber of people President Trump has brought on to push the administration’s economic policies, including Gary Cohn, the former Goldman Sachs Group Inc. (NYSE:GS) resident who’s now director of the National Economic Council and a top adviser to President Trump.

“If you look at the policy, look at the people on the ground, they’re top professionals,” Mr. Dimon said. “Serious people, with deep knowledge and deep experience — and their mission is to have a growth agenda. And that agenda is reducing corporate taxes; starting to build infrastructure, which we desperately need; reducing some of the regulatory regime, which has probably held back growth.”

In the interview, Mr. Dimon said he’s also pulling for Europe’s banks to rebound, arguing that the region’s economy cannot recover unless the industry is healthy.

Symbol Last Trade Date Change Open High Low Volume
NYSE:JPM 91.89 9 March 2017 0.68 91.6 92.14 91.48 5,018,993
HeffX-LTN Analysis for JPM: Overall Short Intermediate Long
Bullish (0.46) Bullish (0.40) Bullish (0.38) Very Bullish (0.60)

Stay tuned…

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