Speaker 1: One of the things we've been following is certainly commentary
Speaker 1: from Jamie Dimond. Of course, he is the CEO of
Speaker 1: JP Morgan Chase. He has been at the APEX CEO
Speaker 1: Summit Peru twenty twenty four, and he actually sat down
Speaker 1: with our own Lisa Abramowitz, who is one of the
Speaker 1: co hosts of Bloomberg Surveillance, talking about a lot of things.
Speaker 1: Let's listen into some of that conversation.
Speaker 2: You had a big c change that took place in
Speaker 2: that votue the other day, and some people were prepared
Speaker 2: and somewhere unprepared. But I think the most important thing
Speaker 2: is whoever had been elected, and this is my belief.
Speaker 2: They are entering and could be responsible for the most
Speaker 2: complicated geopolitical, military, and geoeconomic situation that the world has
Speaker 2: faced since World War Two, And of course I wish
Speaker 2: him all the best. I think people try to help
Speaker 2: get through this. It could be a difficult thing with
Speaker 2: a lot of unknowns and uncertainties, and so policy is
Speaker 2: going to matter, and you know, of course who runs
Speaker 2: the government be determinedive there.
Speaker 3: President elect Donald Trump sends a message.
Speaker 4: To you that he respects you greatly, but you will
Speaker 4: not be part of the Trump administration as a Treasury secretary,
Speaker 4: if that were something that were interested interesting to you.
Speaker 2: First of all, I wish the president well and thank you.
Speaker 2: It's a very nice note. But I just want to
Speaker 2: tell the president also I've never i haven't had a
Speaker 2: boss for twenty five years, and I'm not about ready
Speaker 2: to start.
Speaker 3: Only I want to start by also talking about the
Speaker 3: response in markets in the US, which has very much
Speaker 3: been this is going to be a pro growth shock,
Speaker 3: with companies that are going to be investing much more,
Speaker 3: deploying cash aggressive in terms of US expansion. Have you
Speaker 3: seen any signs that that's truly the case.
Speaker 2: Well, yeah, you know you've seen, you've already seen the
Speaker 2: markets have responded quite well. And you know, I think
Speaker 2: America needs a growth strategy. So I literally applaud that.
Speaker 2: I think collaboration between government and business is the way
Speaker 2: to have growth. You know, they've always spoken about a
Speaker 2: regulatory environment, when I want to point out I'm not
Speaker 2: talking about just getting rid of regulations or but the
Speaker 2: regulatory environment most countries has become stifling and in a
Speaker 2: lot of countries, including Peru, it's why you're growing maybe
Speaker 2: two and a half percent, not four or five in
Speaker 2: America is why we've been going to two percent for
Speaker 2: twenty years and maybe not three. So I do think
Speaker 2: it's a reasonable thing to have that kind of reform,
Speaker 2: and that reform has to go deeper than just regulations
Speaker 2: which can leash capital and investment and banking and stuff
Speaker 2: like that. It's got to be permitting and all the
Speaker 2: related things that come with that, where people, you know,
Speaker 2: you would just mention your mind that you know, someone
Speaker 2: bought that could do rare earths. In the United States,
Speaker 2: it's ten years they haven't gone their permits yet. I mean,
Speaker 2: it's a shame and we're doing this to ourselves and
Speaker 2: it's a mistake. So I deployed any government that says
Speaker 2: I'm going to make government more efficient, and I think
Speaker 2: inefficient government is one of the reasons that people are frustrated.
Speaker 2: You know, that why you have some populism because they
Speaker 2: may blame you know, they may look at big companies,
Speaker 2: but they also know their government isn't spending their money wisely.
Speaker 1: Well, there you have it. Jamie Diamond of JP Morgan
Speaker 1: Chase at the Apex CEO Summit in Lima, Peruz, speaking
Speaker 1: to Bloomberg Surveillance co host Lisa Abramowitz