By Nupur Anand
(Reuters) -JPMorgan Chase CEO Jamie Dimon expressed confidence in a robust U.S. economy backed by strong employment and healthy consumer finances.
The U.S. economic boom is “unbelievable,” Dimon said at an Economic Club of New York event on Tuesday. “Even if we go into recession, the consumer’s still in good shape.”
Still, he warned about the potential economic effects of the rising national debt, inflation and geopolitical conflicts.
Dimon, who has run the largest U.S. lender for more than 18 years, has cautioned that inflation could be more persistent than expected, keeping interest rates 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 speculation about Dimon joining the government, or said that he had no plans to run for office.
The CEO discussed policy issues including U.S. 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 U.S. 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.
Dimon hailed U.S. leadership and economic power in an annual letter to shareholders earlier this month that invoked “liberty and justice for all.”
(Reporting by Nupur Anand in New York and Niket Nishant in Bengaluru; Editing by Lananh Nguyen and Richard Chang)
