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Boss Files with Poppy Harlow

Jamie Dimon on the State of America

Boss Files with Poppy Harlow

CNN

Business, Entrepreneurship

4.6538 Ratings

🗓️ 19 March 2019

⏱️ 36 minutes

🧾️ Download transcript

Summary

*EXCLUSIVE* JPMorgan Chase CEO Jamie Dimon sits down with CNN's Poppy Harlow to talk about the future of work, why his bank is investing hundreds of millions of dollars to train the employees of the future, and how he sees the U.S. economy right now.To learn more about how CNN protects listener privacy, visit cnn.com/privacy Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

In this episode of Boss Viles, he's perhaps the most powerful banker on Wall Street.

0:05.7

Jamie Diamond guided J.P. Morgan Chase through the financial crisis, building, based on market

0:10.9

cap, the most valuable bank in the world with 250,000 employees. But he's worried, very worried,

0:18.5

not about the state of his bank, but about the state of America.

0:21.6

So if you look at America, we've owned at 20% last 10 years, it should have been 40.

0:26.6

We've identified one of the reasons is that kids aren't getting the education they need to get a job.

0:31.6

And I'm telling about a real job.

0:33.6

He's putting hundreds of millions of dollars to work, betting there are things that can change the outcome for the better.

0:39.5

He'll explain why in just a moment.

0:41.8

Plus, where he puts the risk of a near-term recession, what keeps him up at night,

0:46.9

and how critical he thinks it is we see a U.S.-China trade deal,

0:51.1

also the politics of it all as we head toward 2020. So what is that thing that keeps you up at night? I think just bad policy that don't fix. You asked me that what's going to hurt our country in the long run is we don't, I take infrastructure. Here's my exclusive interview with J.P. Morgan Chase's CEO, Jamie Diamond. Okay, Jamie Diamond, thank you for doing this. Poppy, happy to be here. Nice to see you again.

1:16.9

J.P. Morgan just rolled out a huge initiative, $350 million investment in the future of work.

1:24.2

What have you seen happening without this investment that you think makes it so necessary now?

1:28.3

Yeah. So if you look at America, we've grown at 20% last 10 years. It should have been 40. We've identified one of the reasons is that kids aren't getting the education they need

1:33.3

to get a job.

1:34.3

And I'm telling about a real job.

1:35.3

It could be at a high school, it could be out of community college, could be out of college.

1:38.3

It's probably been holding America back.

1:41.3

I'd say possibly substantially, which is why you have seven million open jobs and

1:44.4

a slight less than that unemployed. So what we've seen is the local level and you were with us in

1:48.9

Detroit, that if you actually work with the local companies, like in Detroit that need machine

...

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