Key Words: ‘This is a many moneyed economy a universe has ever seen’ says Jamie Dimon — and it’s going to continue

While many investors might worry about a effects that a U.S.-China trade war, Brexit and Middle East tensions are carrying on a tellurian economy, Jamie Dimon has this advice: Relax.

The authority and arch executive of JPMorgan Chase Co.

JPM, +0.29%

  told “60 Minutes” on Sunday that today’s universe is no some-more indeterminate than it has been in a past, and that in a post-World War II era, usually one tellurian predicament has truly influenced a tellurian economy in a brief run — a 1973 oil embargo, that set off a tellurian recession.

“This is a many moneyed economy a universe has ever seen and it’s going to be a really moneyed economy for a subsequent 100 years.”

Jamie Dimon

In a wide-ranging talk with CBS News’s Lesley Stahl, Dimon pronounced he’s confident about a U.S. economy.

“The consumer, that is 70% of a U.S. economy, is utterly strong,” he said. “Confidence is really high. Their change sheets are in good shape. And we see that a strength of a American consumer is pushing a American economy and a tellurian economy. And while business slowed down, my stream perspective is that, no, it only was a slowdown, not a petering out.”

In September, Dimon pronounced he does not design a fortitude to a trade fight before a 2020 election, yet he also doesn’t consider a retrogression is entrance anytime soon.

Read: The biggest risk confronting a batch marketplace in a entrance year isn’t trade jitters or a election, Deutsche Bank warns

In Sunday’s interview, Dimon concurred institutional mistakes were done by a banking attention during a lead-up to a 2008 financial crisis. “I consider we let a American people down,” he said.

Dimon pronounced he understands open annoy over a miss of punishment for those who caused a meltdown, and concluded that income inequality is apropos a flourishing concern.

“I consider it’s a outrageous problem and we consider a abounding have been removing wealthier too much, in many ways,” he said.

He drew a line during giving adult his $31-million-a-year compensate package though.

“The house sets mine. we have zero to do with it,” he said.

“Well, we could lapse some of it,” Stahl countered.

“I could,” pronounced Dimon. “Is that gonna solve any of those problems?”

Dimon pronounced a top on executive compensate would be impractical, yet he would not have cut taxes for a rich, as a Trump administration did, and suggested partial of a resolution was lifting a sovereign smallest wage.

“The problems are real. It does not meant giveaway craving is bad,” he said.

Dimon, who pronounced in 2018 that he could kick President Donald Trump in an choosing since “I’m smarter than he is,” also pronounced he has no goal of using for president.

“I suspicion about meditative about it,” he said. “I talked to one person, and we motionless to consider no more.”

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