Squawk Pod Reports: JPMorgan’s Jamie Dimon

Squawk Pod

CNBC

Investing, Business News, News, Business

4.2 • 543 Ratings

🗓️ 6 December 2022

⏱️ 24 minutes

🔗️ Recording | iTunes | RSS

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Summary

In a special episode of Squawk Pod, Joe Kernen, Becky Quick, and Andrew Ross Sorkin are in Washington, D.C. for the annual Business Roundtable meeting, speaking with JPMorgan Chase CEO Jamie Dimon. For 50 years, the BRT has represented the CEOs of America’s biggest companies, pushing for U.S. competitiveness and economic growth. This year, Jamie Dimon, CEO of the nation’s largest bank and head of over 250,000 employees, discusses the evolution of corporate responsibility, the risks of a global recession, and the Fed’s path out of inflation in an interview exclusive to CNBC. In this episode: Becky Quick @BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	The United States economy is the strongest economy of the world today.
0:07.0	So we should celebrate that a little bit and that's why capital is coming here,
0:10.7	business is coming here, is still growing.
0:13.1	J.P. Morgan, CEO Jamie Diamond is bullish on the United States.
0:17.4	But look out.
0:18.1	He says we could be on our way to a rough patch.
0:21.1	Rates are now, you know, 4% on their way to 5.
0:23.8	Inflation is eroding everything I just said.
0:25.9	So when you're looking out forward, those things may very well derail the economy and
0:29.5	cause this milder hard recession that people worried about.
0:32.4	Jamie Diamond bracing for the Fed's next. milder hard recession that people worried about.
0:32.8	Jamie Diamond bracing for the Fed's next move,
0:35.5	painting a bigger picture for investors,
0:37.5	and bringing a lot of us back down to earth.
0:40.3	Crypto is a complete side show, okay?
0:42.2	And you guys spend too much time on it
0:44.4	crypto tokens are like pet rocks
0:46.7	America's top CEOs meet in Washington DC reviewing their outlook for the US
0:51.2	economy and we're there too with a peak into the
0:53.8	business roundtable's biggest concerns. The other risk we have is quantitative
0:57.8	tightening. We've never had it before, ever in the lifetime of mankind, so I look at
1:02.0	that as something we should be quite
	...

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