Jamie Dimon just told Melissa Francis on CNBC that on Wednesday, he’ll comment extensively on the implications of regulations on business.
This is exciting. The last time Dimon commented on regulations, he did it in front of Ben Bernanke during a public press conference. Some said it was like Dimon ambushed Bernanke to say that regulations are slowing the recovery.
Obviously this time will be different because 1) Dimon’s comments will follow Bernanke’s statement Tuesday and 2) he’s giving a heads up.
But based on what Dimon just told CNBC –
“I will comment [Wednesday] on some of the regulatory things that I think are part of the problem and are causing some of the tightening taking place.”
It seems that Dimon’s regulatory concerns have not been alleviated.
But of course that’s not surprising because nothing has changed regulation-wise. Banks are still concerned about capital surcharges hurting their ability to loan to small businesses, for example.
And the question Dimon asked Ben Bernanke in June is still relevant:
“Has anyone looked cumulative effect of all these regulations, and could they be reason it’s taking so long for credit and jobs to come back?”
So expect Dimon to comment again about regulations hurting business growth and killing jobs. It’s happening Wednesday at 11 AM on The Call on CNBC.
Dimon spoke to Francis as the JPMorgan CEO is on the West Coast visiting Chase branches on a bus tour.
He also said, “I don’t think we should be waiting for someone [Bernanke] to come save the day.” (He didn’t.)
“The U.S. economy is still very strong.”