WEBVTT - Jamie Dimon Talks Election Result and Banking

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<v Speaker 1>One of the things we've been following is certainly commentary

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<v Speaker 1>from Jamie Dimond. Of course, he is the CEO of

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<v Speaker 1>JP Morgan Chase. He has been at the APEX CEO

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<v Speaker 1>Summit Peru twenty twenty four, and he actually sat down

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<v Speaker 1>with our own Lisa Abramowitz, who is one of the

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<v Speaker 1>co hosts of Bloomberg Surveillance, talking about a lot of things.

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<v Speaker 1>Let's listen into some of that conversation.

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<v Speaker 2>You had a big c change that took place in

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<v Speaker 2>that votue the other day, and some people were prepared

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<v Speaker 2>and somewhere unprepared. But I think the most important thing

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<v Speaker 2>is whoever had been elected, and this is my belief.

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<v Speaker 2>They are entering and could be responsible for the most

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<v Speaker 2>complicated geopolitical, military, and geoeconomic situation that the world has

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<v Speaker 2>faced since World War Two, And of course I wish

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<v Speaker 2>him all the best. I think people try to help

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<v Speaker 2>get through this. It could be a difficult thing with

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<v Speaker 2>a lot of unknowns and uncertainties, and so policy is

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<v Speaker 2>going to matter, and you know, of course who runs

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<v Speaker 2>the government be determinedive there.

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<v Speaker 3>President elect Donald Trump sends a message.

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<v Speaker 4>To you that he respects you greatly, but you will

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<v Speaker 4>not be part of the Trump administration as a Treasury secretary,

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<v Speaker 4>if that were something that were interested interesting to you.

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<v Speaker 2>First of all, I wish the president well and thank you.

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<v Speaker 2>It's a very nice note. But I just want to

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<v Speaker 2>tell the president also I've never i haven't had a

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<v Speaker 2>boss for twenty five years, and I'm not about ready

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<v Speaker 2>to start.

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<v Speaker 3>Only I want to start by also talking about the

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<v Speaker 3>response in markets in the US, which has very much

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<v Speaker 3>been this is going to be a pro growth shock,

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<v Speaker 3>with companies that are going to be investing much more,

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<v Speaker 3>deploying cash aggressive in terms of US expansion. Have you

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<v Speaker 3>seen any signs that that's truly the case.

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<v Speaker 2>Well, yeah, you know you've seen, you've already seen the

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<v Speaker 2>markets have responded quite well. And you know, I think

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<v Speaker 2>America needs a growth strategy. So I literally applaud that.

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<v Speaker 2>I think collaboration between government and business is the way

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<v Speaker 2>to have growth. You know, they've always spoken about a

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<v Speaker 2>regulatory environment, when I want to point out I'm not

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<v Speaker 2>talking about just getting rid of regulations or but the

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<v Speaker 2>regulatory environment most countries has become stifling and in a

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<v Speaker 2>lot of countries, including Peru, it's why you're growing maybe

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<v Speaker 2>two and a half percent, not four or five in

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<v Speaker 2>America is why we've been going to two percent for

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<v Speaker 2>twenty years and maybe not three. So I do think

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<v Speaker 2>it's a reasonable thing to have that kind of reform,

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<v Speaker 2>and that reform has to go deeper than just regulations

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<v Speaker 2>which can leash capital and investment and banking and stuff

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<v Speaker 2>like that. It's got to be permitting and all the

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<v Speaker 2>related things that come with that, where people, you know,

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<v Speaker 2>you would just mention your mind that you know, someone

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<v Speaker 2>bought that could do rare earths. In the United States,

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<v Speaker 2>it's ten years they haven't gone their permits yet. I mean,

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<v Speaker 2>it's a shame and we're doing this to ourselves and

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<v Speaker 2>it's a mistake. So I deployed any government that says

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<v Speaker 2>I'm going to make government more efficient, and I think

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<v Speaker 2>inefficient government is one of the reasons that people are frustrated.

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<v Speaker 2>You know, that why you have some populism because they

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<v Speaker 2>may blame you know, they may look at big companies,

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<v Speaker 2>but they also know their government isn't spending their money wisely.

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<v Speaker 1>Well, there you have it. Jamie Diamond of JP Morgan

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<v Speaker 1>Chase at the Apex CEO Summit in Lima, Peruz, speaking

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<v Speaker 1>to Bloomberg Surveillance co host Lisa Abramowitz