Tax an individual enough and they will vote with their feet, warned JPMorgan Chase CEO Jamie Dimon in his annual shareholder letter on Monday. 
Dimon’s already making the move for JPMorgan Chase by employing more people in his Dallas office than in the company’s New York City headquarters. The banker added that the trend will only continue. Over the past decade, JPMorgan has reduced its New York City headcount from 30,000 to 24,000, while expanding its Texas ranks from 26,000 to 32,000. Dimon acknowledged that New York remains a strong hub for financial talent, but said high costs are one of the firm’s biggest challenges.
“No city or company or country has a divine right to success,” wrote the CEO in his annual shareholder letter. “People like to make this a moral or loyalty issue, but it is not.”
Dimon framed the issue not as politics, but as basic economics. “Companies need to remain competitive in this very competitive, fast-moving world. Higher taxes mean lower returns on capital and less competitiveness by their nature.”
He also drew a comparison to New York in the 1970s, when “nearly half of the 125 Fortune 500 companies based in New York City left.” While mergers played a role during that era’s surge in dealmaking, Dimon argued that “the price of doing business in New York City accounted for most” of the departures. The exodus of major employers contributed to the city’s fiscal crisis and near-bankruptcy in 1975, eroding its tax base.
The 2026 exodus isn’t limited to JPMorgan. Wells Fargo <a href="https://www.wfaa.com/article/news/local/dallas-county/wells-fargo-massive-irving-campus-texas-banking-boom-accelerates/287-7febeb0c-d4ec-45e4-903f-f93e38e32e3e">opened</a> a new 850,000 square-foot campus in 2025 in Texas and Goldman Sachs is <a href="https://www.goldmansachs.com/pressroom/press-releases/2025/gs-unveils-fresh-look-inside-northend-campus">developing</a> a $500 million dollar campus in Dallas’ Victory Park. The influx of financial firms has earned the city the nickname “Y’all Street.”
Dimon warned that the trend is likely to accelerate, potentially worsening an already fragile moment for New York City. While he did not mention him by name, his comments come as newly elected Mayor Zohran Mamdani advocates for higher taxes on wealthy individuals and corporations. Less than a month into office, Mamdani floated raising property taxes to address what he described as a multibillion-dollar budget gap comparable to the Great Recession. He has also pushed Governor Kathy Hochul to raise the corporate tax rate from 7.25% to 11.5% and add a 2% tax on incomes above $1 million.
When Mamdani won his election, Dimon opened the communication lines by calling the newly elected mayor. Previously, Dimon <a href="https://www.nytimes.com/2025/07/15/business/mamdani-nyc-business-leaders.html">called</a> Mamdani’s free buses and rent freezes “the same ideological mush that means nothing in the real world.”
Mamdani has previously told reporters that when he goes into meetings with business leaders, he keeps an open mind. “I go into each of these meetings knowing what I know, knowing what I believe, and interested in what I can also learn from each and every one of the people who have made the city what it is.”
So far, however, there is little indication that the business community’s concerns about higher taxes have swayed him.

Jamie Dimon

Jamie Dimon Has Bad News For NY — And Red State May Reap The Rewards

Economy

JP Morgan

New York City

Texas

U.S.

Wall Street

Zohran Mamdani

President Donald Trump filed a $5 billion lawsuit against JPMorgan Chase and the bank&#8217;s CEO Jamie Dimon on Thursday, alleging that it closed Trump&#8217;s accounts in 2021 over &#8220;woke&#8221; motivations following the January 6 riot at the Capitol.
The suit argues that JPMorgan, one of the largest banks in the United States, violated its own principles when it terminated multiple accounts belonging to Trump and his business.
&#8220;Plaintiffs are confident that JPMC’s unilateral decision came about as a result of political and social motivations, and JPMC’s unsubstantiated, &#8216;woke&#8217; beliefs that it needed to distance itself from President Trump and his conservative political views,&#8221; the lawsuit <a href="https://www.scribd.com/document/985579226/Trump-suing-JPM-and-Dimon#download&amp;from_embed">states</a>. &#8220;In essence, JPMC debanked Plaintiffs’ Accounts because it believed that the political tide at the moment favored doing so.&#8221;
The lawsuit was filed by Trump&#8217;s attorney, Alejandro Brito, in a Florida state court in Miami, Fox Business <a href="https://www.foxbusiness.com/politics/trump-sues-jpmorgan-chase-ceo-jamie-dimon-5b-over-alleged-political-debanking">reported</a>. The suit says that on February 19, 2021, JPMorgan notified Trump and his business that their accounts would be closed in two months, adding that the bank &#8220;did not provide Plaintiffs any recourse, remedy, or alternative — its decision was final and unequivocal.&#8221;
&#8220;Because JPMC did not provide Plaintiffs and their affiliated entities with any advance notice before February 19, 2021, and unilaterally debanked Plaintiffs by terminating Plaintiffs’ Accounts, Plaintiffs suffered considerable financial harm and losses caused not only by the interruption to their access to JPMC’s banking services, but also by the devastating impact on Plaintiffs’ ability to transact and access their monies, and by having to enter into less favorable business arrangements with other financial institutions,&#8221; Trump&#8217;s lawyer argues.
The suit also alleges that JPMorgan placed Trump and his business on a &#8220;blacklist,&#8221; which &#8220;is accessible by federally regulated banks and is comprised of individuals and entities that have a history of malfeasant acts and are otherwise non-compliant with applicable banking rules and regulations.&#8221;
JPMorgan has also been <a href="https://adflegal.org/article/chase-bank-policy-change-adfs-latest-success-story-corporate-america/">accused</a> of debanking conservative groups such as the National Committee for Religious Freedom, which was founded by former Republican Senator and Ambassador Sam Brownback. The bank denies accusations that it has closed accounts for political or religious reasons.
The bank said on Thursday that it is confident that Trump&#8217;s lawsuit against it will not succeed.
“While we regret President Trump has sued us, we believe the suit has no merit,&#8221; JPMorgan said in a statement shared with The Daily Wire.
The statement continues, “We do close accounts because they create legal or regulatory risk for the company. We regret having to do so but often rules and regulatory expectations lead us to do so. We have been asking both this Administration and prior administrations to change the rules and regulations that put us in this position, and we support the Administration’s efforts to prevent the weaponization of the banking sector.”
After backlash to JPMorgan&#8217;s decision to debank Trump and other conservatives, the bank <a href="https://www.dailywire.com/news/major-win-jpmorgan-chase-ends-political-debanking">changed</a> some of its policies and clarified that customers could not be discriminated against for political or religious views. Dimon said last year that his bank does not &#8220;debank people because of political or religious affiliations.&#8221;
&#8220;But there are a lot of things that can be fixed. We should fix them,&#8221; Dimon <a href="https://subscriber.politicopro.com/article/2025/02/jamie-dimon-regulators-pretty-much-to-blame-for-debanking-00204094">added</a>. &#8220;The rules and requirements are so onerous, and it does cause people to be debanked, who in my opinion, should not be debanked.&#8221;

Donald Trump/JPMorgan Chase

‘Political And Social Motivations’: Trump Sues JPMorgan Chase Over January 6 Debanking

Donald Trump

Lawsuit

President Donald Trump urged Congress on Wednesday to pass legislation capping credit card interest rates at 10% for the next year, a proposal that has drawn criticism from Republican lawmakers.
Trump pressed Congress to take action on credit card interest rates during a speech at the World Economic Forum in Davos, Switzerland. Last week, the president pressured banks and credit card companies to lower interest rates for one year, but he didn&#8217;t address how he would force them to comply. A deadline had been set for Jan. 20, but institutions have yet to follow Trump&#8217;s directive.
&#8220;The profit margin for credit card companies now exceeds 50%, and they charge Americans interest rates of 28%, 30%, 31%, 32%. Whatever happened to usury?&#8221; Trump <a href="https://x.com/RapidResponse47/status/2013983796039647649">said</a> on Wednesday. &#8220;So, to help our citizens recover from the Biden disaster all caused by this horrible president, I&#8217;m asking Congress to cap credit card interest rates at 10% for one year.&#8221;
&#8220;And this will help millions of Americans save for a home,&#8221; he added.
Leftist Massachusetts Sen. Elizabeth Warren, who has pushed for capping credit card interest rates, said last week that Trump <a href="https://www.cnbc.com/2026/01/14/warren-trump-credit-card-interest-rate-affordability.html">called her</a> to discuss the issue. Warren said that she told Trump &#8220;he had not lifted a finger to try to get something through on credit card interest rate caps.”
Democratic socialist Bernie Sanders (I-VT) and Republican Josh Hawley of Missouri also support the idea. Both senators introduced a bill last year to cap credit card interest rates at 10% for five years. Leftist Congresswoman Alexandria Ocasio-Cortez (D-NY) and Florida Republican Anna Paulina Luna introduced a similar bill in the House, but the legislation has not made any progress in Congress.
When Trump publicly floated the idea of capping interest rates last week, Republican leaders in the Senate and House poured cold water on the proposal. House Speaker Mike Johnson (R-LA) said last Tuesday, &#8220;The president is the ideas guy,” adding, “I wouldn’t get too spun up about ideas that are out of the box, that are proposed or suggested,&#8221; POLITICO <a href="https://www.politico.com/news/2026/01/13/trump-credit-cards-congress-republicans-00725477">reported</a>.
&#8220;You&#8217;ve got to be very careful if you go forward in that,&#8221; Johnson continued. &#8220;In our zeal to bring down costs, you don&#8217;t want to have negative secondary effects. The problem is, if you do that, then the credit card companies, the negative secondary effect is that they would just stop lending money, and maybe they cap what people are able to borrow at a very low amount.&#8221;
Senate Majority Leader John Thune (R-SD) said, “That’s not something I’m out there advocating for.&#8221; Thune told NBC News that he believes Trump is getting bad advice.
&#8220;He may be getting advice on some of those issues, like, for example, the 10% cap on credit cards,” he said. “Don’t know where that came from. I don’t know. I don’t know the answer.”
Now that Trump has called on Congress to act on capping credit card interest rates, Republican leaders could find themselves in a tougher spot if they continue to publicly oppose his plan.
JPMorgan Chase CEO Jamie Dimon, who is also in Davos, <a href="https://www.cnbc.com/2026/01/21/jamie-dimon-trump-credit-card-rate-cap-vermont-massachusetts.html">said</a> on Wednesday that a cap on credit card interest rates &#8220;would be an economic disaster.&#8221;
“In the worst case, you’d have a drastic reduction of the credit card business” for 80% of Americans, Dimon said, according to CNBC. He then quipped that the United States should test the idea in Warren&#8217;s and Sanders&#8217; home states of Massachusetts and Vermont, &#8220;and see what happens.&#8221; The banker added that those on &#8220;the Left&#8221; who push for price controls “will learn a real lesson, and the people crying the most won’t be the credit card companies.&#8221;
“It’ll be the restaurants, the retailers, the travel companies, the schools, the municipalities, because people miss their water payments,” Dimon said. “It would be something else to watch.”

Trump Urges Congress To Cap Credit Card Interest Rates As Republican Leaders Push Back On Plan

Trump Calls On Congress To Cap Credit Card Interest Rates As Republican Leaders Push Back On Plan

Bernie Sanders

credit cards

Elizabeth Warren

Josh Hawley

Republicans

JPMorgan Chase this week announced a $1.5 trillion initiative to reduce America&#8217;s reliance on China, with CEO Jamie Dimon cautioning that the United States has become &#8220;too reliant&#8221; on adversarial nations for critical supplies.
Dimon, one of the most influential voices on Wall Street, unveiled the firm’s <a href="https://www.jpmorganchase.com/newsroom/press-releases/2025/jpmc-security-resiliency-initiative" target="_blank" rel="noopener">Security and Resiliency Initiative</a> to combat this issue on Monday. Through the initiative, JPMorgan will invest up to $10 billion in four key areas: supply chain and advanced manufacturing, defense and aerospace, energy independence and resilience, and frontier and strategic technologies.
&#8220;The U.S. has allowed itself to become too reliant on unreliable sources of critical minerals, products, and manufacturing — all of which are essential for our national security,&#8221; Dimon <a href="https://www.wsj.com/opinion/investments-for-national-security-e954411c?gaa_at=eafs&amp;gaa_n=AWEtsqcojq8v_IFiVE-mP1LoNEBJ97fJcA6JVlgr2gKwKrw7YrUeZHHoCoHedckFQGk%3D&amp;gaa_ts=68f01640&amp;gaa_sig=H1rn6_7YjpxQ3UEPrbXK_8VLOlrpWIDf_9-NqYg0ntF84Y3fsmguEEnm38cYZnd8FByrBCDlUrMpXLAe2dTp2w%3D%3D" target="_blank" rel="noopener">wrote</a> in a Wall Street Journal op-ed announcing the initiative.
&#8220;America needs more speed and investment,&#8221; Dimon wrote. &#8220;Our adversaries and potential adversaries aren’t waiting — we no longer have the luxury of time.&#8221;
&#8220;We need to act now,&#8221; Dimon stressed.
Currently, China produces 60% of the world’s rare earth minerals and performs up to 90% of the refining process to make them fit for everyday products. <a href="https://naturalresources.house.gov/uploadedfiles/hr761_everyday_uses.pdf" target="_blank" rel="noopener">Smartphones, defense systems, batteries, and medical devices</a> all contain critical minerals. Speaking on a press call, Dimon emphasized that this decision is a “JPMorgan initiative,” underscoring that it was developed independently of political or public-sector influence.
While not structured as a public-private partnership, the effort aligns with the Trump administration&#8217;s efforts to reduce American reliance on foreign governments for certain essential resources. In an effort to counter China’s dominance in critical minerals, the Trump administration took equity stakes in three mining companies: MP Materials Corp, Lithium Americas Corp, and Trilogy Metals Inc.
Public filings published by the Pentagon’s Defense Logistics Agency show plans to stockpile <a href="https://www.ft.com/content/cd5244eb-a8e9-42bc-8939-71ba0fefa057" target="_blank" rel="noopener">up to $1 billion of critical minerals</a>, underscoring their strategic importance.
Mining has not always been so politically favorable.
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“Today, my administration stopped a 211-mile road from carving up a pristine area that Alaska Native communities rely on, in addition to steps we&#8217;re taking to maintain protections on 28 million acres in Alaska from mining and drilling,” President Joe Biden said in 2024.
President Trump reversed that decision last Monday, citing that the project contains “extensive deposits of copper, silver, gold, lead, cobalt, and other strategic metals.”
Biden’s original pause followed a Bureau of Land Management report warning that the project “would require over 3,000 stream crossings and could impact at risk wildlife populations, including sheefish, the already-declining Western Arctic caribou herd, and other subsistence resources.”
During his first term, Trump faced backlash after finalizing plans for mining and drilling on national lands in Utah.
At the time, Kamala Harris said, “We cannot allow national treasures like these get opened to logging, mining &amp; oil drilling because of Pres. Trump.”
Senator Elizabeth Warren (D-MA) vowed during her 2020 presidential run to reverse Trump&#8217;s mining policies on her first day in office.
“Climate change threatens every living thing,&#8221; Warren said. &#8220;On day one, I’ll do everything a president can do all by herself to fight this crisis: Roll back the changes that Trump is putting in place, stop all new drilling and mining on federal lands, and end offshore drilling.”
Senate Minority Leader Chuck Schumer (D-NY) said, “These public lands belong to all Americans. Opening them up to mining and drilling against the will of the people is unacceptable.”
China’s metals and mining sector exceeded $10 billion in 2023, a 131% growth rate when <a href="https://www.energymonitor.ai/industry/weekly-data-china-seeks-to-extend-its-critical-minerals-dominance-with-overseas-investment-surge/" target="_blank" rel="noopener">compared</a> with the same period last year. This year, China’s metal and mining sector reached <a href="https://greenfdc.org/china-belt-and-road-initiative-bri-investment-report-2025-h1/#:~:text=Preliminary%20data%20on%20Chinese%20engagement,the%20previous%20record%20in%202024." target="_blank" rel="noopener">new investment records</a>, surpassing the previous record in 2024 in the first six months.

‘We Need To Act Now’: JPMorgan Launches $1.5 Trillion Initiative To Reduce U.S. Reliance On China

China

Minerals

Working in corporate engagement, I often hear questions about why the ‘long game’ matters in changing woke company policies. If executive orders can instantly push companies away from DEI or ESG initiatives, why take other pathways? The answer is clear: lasting change takes time. JPMorgan Chase, the nation’s largest bank, just proved this with a major policy shift — one that speaks louder than any theory ever could.
In 2022, JPMorgan Chase <a href="https://nypost.com/2025/03/10/opinion/i-was-debanked-by-jpmorgan-chase-but-fought-back-and-won/" target="_blank" rel="noopener">debanked</a> former U.S. Senator and Ambassador Sam Brownback, after Brownback opened an account for the newly-formed National Committee for Religious Freedom. The son of a Kansas farmer, Brownback refused to back down. When Brownback asked the bank for its rationale in shuttering his account, he was met with conflicting (and incorrect) explanations as to why.
Brownback’s debanking experience was the start of a major wave of scrutiny over exactly what conditions a bank will close a customer’s account. Victims range from nonprofit organizations like Indigenous Advance, an organization serving Ugandan widows &amp; orphans debanked by Bank of America in 2023, to Melania &amp; Barron Trump, who Melania <a href="https://oversight.house.gov/wp-content/uploads/2025/01/2025-01-24-Letter.pdf" target="_blank" rel="noopener">described</a> as having been debanked in her memoir, prompting further inquiry from the House Committee on Oversight.
Yet JPMorgan consistently ranked as one of the major bad actors in the debanking saga, closing not only Brownback’s account (and actually <a href="https://www.ag.ky.gov/Press%20Release%20Attachments/23.5.2%20Letter%20to%20Chase.pdf" target="_blank" rel="noopener">asked</a> for his org’s donor list for restoring service) but several other conservative nonprofits. The biggest bank in America was quickly racking up hits on its record of political neutrality and customer equality.
This trend might have gone unaddressed had the Right simply let the issue lie. Luckily, some of the most influential names in both the conservative legal, financial, and government worlds stepped up to the plate. Pressure for increased transparency and commitments to ditch any policies that could lead to a client being debanked for political reasons has come from all directions, from legal giants like <a href="https://adfmedia.org/press-release/19-states-chase-stop-misleading-customers-commit-equality-treatment/" target="_blank" rel="noopener">Alliance Defending Freedom</a> to <a href="https://www.viewpointdiversityscore.org/news/statement-on-debanking-and-free-speech" target="_blank" rel="noopener">notable financial professionals</a> to <a href="https://www.ag.ky.gov/Press%20Release%20Attachments/23.5.2%20Letter%20to%20Chase.pdf" target="_blank" rel="noopener">state financial officers and attorneys general</a>. As that public pressure mounted, shareholder pressure has been growing from the inside for the past three years, spurred on by organizations like the firm I work for, Bowyer Research, with Chase investors like financial advisor David Bahnsen spending literal years <a href="https://www.nationalreview.com/corner/bahnsen-takes-the-fight-today-to-jpmorgan-chase/" target="_blank" rel="noopener">urging</a> the company to clarify its approach to debanking — and fix its spotty track record on political neutrality.
And Chase listened.
In 2023, JPMorgan made the decision to axe its “social risk” policy from its payment processing arm, no longer allowing vague terms like “intolerance” and “hate” to determine whether a customer was fit to continue doing business at Chase. But the biggest win so far came several days ago, when Chase agreed to a policy change explicitly protecting customers and employees from discrimination based on religious or political views.
This is huge. Many stories about companies ditching woke policies consist of the company putting out a public statement (and often the controversy that follows). Statements are great, but they’re not the ideal. Companies can hide behind statements — and do. Several companies that have publicly made statements supporting political neutrality clearly have work to do when it comes to actually putting their policies where their mouths are.
But companies can’t hide behind policy changes. That’s why they’re a sign of both real progress and good faith. Shareholders like Bahnsen, and groups like ADF &amp; Bowyer Research, have been engaging with Chase for years to get this change. Make no mistake: Chase’s willingness to protect against future political/religious debanking is the result of real shareholders using real influence to create real change. It’s a victory for Chase’s customers and shareholders, but also for the company itself. It’s a win for a company to clear up concerns about corporate bias, a win that’s been a long time coming, and a win that hopefully many other banks will find instructive.
* * *
Isaac Willour is an award-winning journalist focusing on race, culture, and American conservatism, as well as a corporate relations analyst at Bowyer Research. His work has been featured at outlets including USA Today, The Wall Street Journal, The New York Times Opinion, C-SPAN, and The Daily Wire. He is a member of the Young Voices contributor program and can be found on X <a href="https://twitter.com/IsaacWillour" target="_blank" rel="noopener">@IsaacWillour</a>.
The views expressed in this piece are those of the author and do not necessarily represent those of The Daily Wire.

Major US Bank Bosses To Discuss Debanking With Senate Committee

Major Win: JPMorgan Chase Ends Political Debanking

Alliance Defending Freedom (ADF)

Banking

Banks

Bias

Censorship

Christians

Conservatives

Corporations

debanking

Opinion

Woke Culture

Jamie Dimon, Chairman &amp; CEO of JPMorgan Chase, endorsed Elon Musk&#8217;s proposed &#8220;government efficiency commission&#8221; during an interview where he also weighed in on the state of the U.S. presidential race.
Dimon, who made the remarks during a Tuesday interview on CNBC-TV18, said that he was not planning to endorse either candidate and was more focused on policy.
He said he wanted to do things &#8220;to make America healthier and to lift up all of our citizens.&#8221;
Dimon said that the bottom 20 percent of Americans have been &#8220;left behind&#8221; and that populism is on the rise because they are &#8220;dying younger,&#8221; &#8220;their schools are worse,&#8221; and &#8220;they have more crime in the neighborhoods.&#8221;
Regarding the prospect of Musk joining a potential future Trump administration, Dimon said: &#8220;So, Elon &#8211; this idea about having an efficiency commission &#8211; I actually like the idea.&#8221;
<a href="https://www.amiracist.com/" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url?q=https://www.amiracist.com/&amp;source=gmail&amp;ust=1726313279401000&amp;usg=AOvVaw115_qPFFEePDP86-Fvo-Vd">Am I Racist? Is In Theaters NOW — Get Your Tickets Here!</a>
&#8220;I mean, I think governments have to become more efficient, more competent, and look at when they take money, what do they get for it?&#8221; he continued. &#8220;And I actually think it&#8217;s a very good idea.&#8221;
&#8220;We really need to do it,&#8221; he added. &#8220;I mean in America we need to do it, I&#8217;m sure a lot of other countries need to do the same thing.&#8221;
<blockquote class="twitter-tweet" data-media-max-width="560">
<a href="https://twitter.com/hashtag/Exclusive?src=hash&amp;ref_src=twsrc%5Etfw">#Exclusive</a> | Jamie Dimon, Chairman &amp; CEO of JPMorgan Chase, says he likes Elon Musk&#8217;s idea of an Efficiency Commission. Dimon tells Prashant Nair that governments must be more competent
(<a href="https://twitter.com/_prashantnair?ref_src=twsrc%5Etfw">@_prashantnair</a>) <a href="https://twitter.com/hashtag/JPMorganChase?src=hash&amp;ref_src=twsrc%5Etfw">#JPMorganChase</a> <a href="https://twitter.com/hashtag/JamieDimon?src=hash&amp;ref_src=twsrc%5Etfw">#JamieDimon</a> <a href="https://twitter.com/hashtag/ElonMusk?src=hash&amp;ref_src=twsrc%5Etfw">#ElonMusk</a> <a href="https://twitter.com/hashtag/cnbctv18digital?src=hash&amp;ref_src=twsrc%5Etfw">#cnbctv18digital</a> <a href="https://t.co/19TqOSDilq">pic.twitter.com/19TqOSDilq</a>
— CNBC-TV18 (@CNBCTV18News) <a href="https://twitter.com/CNBCTV18News/status/1838534717903171681?ref_src=twsrc%5Etfw">September 24, 2024</a></blockquote>
Dimon also said he was worried about geopolitical events because of their ability to &#8220;determine the state of the economy.&#8221;
&#8220;It&#8217;s really the geopolitics, that these things, you know, they&#8217;re getting worse, they&#8217;re not getting better,&#8221; he said. &#8220;There&#8217;s a chance for accidents in energy supply. God knows other countries get involved. You have a lot of war taking place right now. You have American warships being attacked almost every day in the Red Seas. That&#8217;s my biggest caution.&#8221;
&#8220;We&#8217;ve got to really think through how much debt countries can put on before it causes a real problem,&#8221; he added. &#8220;So I&#8217;m a long-term optimist. Short run, I&#8217;m a little more skeptical than other people that everything&#8217;s going to be great. Markets are pricing things like they&#8217;re going to be great. Put me on the cautious side of that one.&#8221;
<blockquote class="twitter-tweet">
Geopolitics &amp; conflicts are getting worse &amp; remain the biggest risk for the state of the economy, that&#8217;s the word coming in from the world&#8217;s top banker, Jamie Dimon, Chairman &amp; CEO, JPMorgan Chase, from the sidelines of JPMorgan India Investor Summit. He tells Prashant Nair that… <a href="https://t.co/ump3eFq4VY">pic.twitter.com/ump3eFq4VY</a>
— CNBC-TV18 (@CNBCTV18News) <a href="https://twitter.com/CNBCTV18News/status/1838486357863186579?ref_src=twsrc%5Etfw">September 24, 2024</a></blockquote>

Interviews At JPMorgan Global Markets Conference

Jamie Dimon Endorses Elon Musk’s ‘Efficiency Commission’; Weighs In On Presidential Race

Celebrities

Elon Musk

Politics

Trump Administration

Jamie Dimon, the CEO of JPMorgan Chase, issued a sober warning for the U.S. economy in his annual letter to investors this week.
Dimon pointed to wars breaking out in Europe, the Middle East, and growing tensions with China as major drivers to economic uncertainty which have helped fuel &#8220;higher energy and food prices, inflation rates and volatile markets.&#8221;
The crises on the foreign policy front are largely a reflection of President Joe Biden&#8217;s weakness on the world stage as America&#8217;s adversaries have felt that they have more latitude in what they are able to get away with under the current administration, critics say.
&#8220;It is important to note that the economy is being fueled by large amounts of government deficit spending and past stimulus,&#8221; Dimon said. &#8220;There is also a growing need for increased spending as we continue transitioning to a greener economy, restructuring global supply chains, boosting military expenditure and battling rising healthcare costs. This may lead to stickier inflation and higher rates than markets expect. Furthermore, there are downside risks to watch.&#8221;
Dimon warned that too many were focused on the short-term and not nearly enough people were focused on the long-term trends and what they could mean for the U.S. economy:
<blockquote>For example, today there is tremendous interest in monthly inflation data, although it seems to me that every long-term trend I see increases inflation relative to the last 20 years. Huge fiscal spending, the trillions needed each year for the green economy, the remilitarization of the world and the restructuring of global trade — all are inflationary. I’m not sure models could pick this up. And you must use judgment if you want to evaluate impacts like these.
Also, a block of time as short as one year is an artificial framework for judging the impact of long-term trends that could easily play out over years. A helpful exercise is to think “future back,” in which you imagine different future outcomes, including the ones you want, and then work backward to events that are happening today (or that might happen or that you cause to happen), closely examining the connections between those events and your projected or desired outcomes. Those connections inform your risk and R&amp;D planning. Similarly, when companies compare the attributes of their products and services with their competitors, they usually only consider where they are versus their competitors. But nothing is static — they should consider where their competitors will be in the future. Conditions are always changing, crises are always emerging. When analyzing the playing field, it is better to assume that your competitors are strong and are already in the process of improving and innovating. This minimizes the chance of arrogance leading to complacency.</blockquote>
He said that markets believe there is a &#8220;70% to 80% chance of a soft landing&#8221; for the U.S. economy — meaning modest growth along with declining inflation and interest rates — but he believes that number is far too high.
&#8220;I believe the odds are a lot lower than that,&#8221; he said. &#8220;In the meantime, there seems to be an enormous focus, too much so, on monthly inflation data and modest changes to interest rates. But the die may be cast — interest rates looking out a year or two may be predetermined by all of the factors I mentioned above. Small changes in interest rates today may have less impact on inflation in the future than many people believe.&#8221;
He said that people need to be prepared for inflation rates to skyrocket again to potentially higher than 8%, &#8220;with equally wide-ranging economic outcomes — from strong economic growth with moderate inflation (in this case, higher interest rates would result from higher demand for capital) to a recession with inflation; i.e., stagflation.&#8221;

U.S.-WASHINGTON, D.C.-SENATE-HEARING-BANK-CEO

America’s Top Bank CEO Warns Biden’s Inflation Crisis Not Over

Inflation

Joe Biden

JPMorgan Chase CEO Jamie Dimon blasted Democrats for “scapegoating” Trump supporters, saying on Wednesday that people voted for Trump because he was right about important issues. 
Dimon joined a panel on CNBC&#8217;s &#8220;Squawk Box&#8221; in Davos, Switzerland, during the World Economic Forum’s (WEF) <a href="https://www.dailywire.com/news/javier-milei-slams-western-leaders-in-speech-at-wef-they-have-abandoned-the-model-of-freedom" target="_blank" rel="noopener">annual meeting</a> this week. The billionaire executive was asked about the role the economy will play in the 2024 presidential election, and Dimon said he’s not optimistic about the position of the U.S. economy, adding that he’s concerned about the plethora of issues the country will face in the next two years.
Dimon then slammed Democrats who are focusing their 2024 political campaign on criticizing former President Donald Trump’s supporters, who made up nearly 75 million voters in 2020. 
“I wish the Democrats would think a little bit more carefully when they talk about MAGA,” Dimon said, adding, “When people say ‘MAGA,’ they’re looking at people voting for Trump, and they’re basically scapegoating them, [saying] ‘You are like him.’”    
“But I don’t think they’re voting for Trump because of his family values,” Dimon continued. “Just take a step back, be honest. He was kind of right about NATO, he was kind of right about immigration, he grew the economy quite well, tax reform worked, he was right about some of China.” 
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
BREAKING &#8211; EXPLOSIVE: JPMorgan CEO Jamie Dimon tells CNBC people are voting for Trump because he was right about the economy, immigration, and China, says people should be a bit more respectful of MAGA people. They know what they are doing. WATCH <a href="https://t.co/fMHgLrZF0d">pic.twitter.com/fMHgLrZF0d</a>
&mdash; Simon Ateba (@simonateba) <a href="https://twitter.com/simonateba/status/1747649336727474298?ref_src=twsrc%5Etfw">January 17, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Dimon, who is <a href="https://www.politico.com/story/2012/05/the-dimon-obama-saga-076304" target="_blank" rel="noopener">close</a> with former President Barack Obama, reportedly considered a presidential run against Trump in 2020, sparking Trump’s ire. 
“I think I could beat Trump because I&#8217;m as tough as he is, I&#8217;m smarter than he is,&#8221; Dimon <a href="https://www.nbcnews.com/politics/donald-trump/trump-slams-jp-morgan-ceo-dimon-nervous-mess-n909171" target="_blank" rel="noopener">said</a> at a company event in 2018. 
Trump <a href="https://twitter.com/realDonaldTrump/status/1040198906842427392?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1040198906842427392%7Ctwgr%5E159753f202f34dbcf651b21959b953d96e380875%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.nbcnews.com%2Fpolitics%2Fdonald-trump%2Ftrump-slams-jp-morgan-ceo-dimon-nervous-mess-n909171" target="_blank" rel="noopener">hit back</a> at Dimon, saying he doesn’t have the “aptitude” or “smarts” to be president, adding that he “is a poor public speaker &amp; nervous mess.” 
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Despite the war of words over five years ago, Dimon acknowledged the policy accomplishments of the former president, saying people have a good argument to vote for Trump. 
“I don’t like how he said things about Mexico, but he wasn’t wrong about some of these critical issues. And that’s why they’re voting for him. And I think people should be a little bit more respectful of our fellow citizens.”
Dimon then voiced his frustration with Democrats who have demeaned Trump supporters since his campaign in 2016 when Hillary Clinton referred to them as “deplorables.”
“Can we just stop that stuff and actually grow up and treat other people respectfully,” Dimon said. “I think this negative talk about MAGA is going to hurt Biden’s re-election campaign.”

Jamie Dimon/Donald Trump

Jamie Dimon Rips Democrats For Disrespecting Trump Supporters, Says Trump ‘Wasn’t Wrong’ About Critical Issues

Jamie Dimon Rips Democrats For Disrespecting Trump Supporters, Says Trump 'Wasn't Wrong' About Critical Issues

2024 Election

Democrats

JPMorgan CEO <a href="https://www.dailywire.com/topic/jamie-dimon" target="_blank" rel="noopener">Jamie Dimon</a> suggested during an interview this week that he is open to potentially running for president.
The 67-year-old leads America&#8217;s largest bank and is arguably the most powerful person in corporate America, according to <a href="https://www.cnn.com/2023/05/31/economy/jamie-dimon-politics/index.html" target="_blank" rel="noopener">CNN</a>.
Dimon would not rule out the possibility when asked about it during an interview on Bloomberg Television on Wednesday.
“I love my country, and maybe one day I’ll serve my country in one capacity or another, but I love what I do,” he said.
Dimon <a href="https://www.cnn.com/2023/05/31/economy/jamie-dimon-politics/index.html#:~:text=But%20if%20he%20did%20eventually,brain%20is%20kind%20of%20Republican.%E2%80%9D" target="_blank" rel="noopener">told</a> CNBC in 2019 that he considers himself  “barely a Democrat,” adding, “my heart is Democratic, my brain is kind of Republican.”
Dimon has hammered Democrats in recent years under the Biden administration, including taking shots at President Joe Biden and far-Left Rep. Rashida Tlaib (D-MI).
Dimon enraged Tlaib during a House hearing when she pressed him over whether his bank had a policy &#8220;against funding new oil and gas products.&#8221;
“Absolutely not,” Dimon responded. “And that would be the road to hell for America.”
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“Yeah, that’s fine,” Tlaib responded. “That’s why, sir, you know what, everybody that got relief from student loans, has a bank account with your bank should probably take out their account and close their account, the fact that you’re not even there to help relieve many of the folks that are in debt, extreme debt because of student loan debt, and you’re out there criticizing it.”
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
Rep. <a href="https://twitter.com/RashidaTlaib?ref_src=twsrc%5Etfw">@RashidaTlaib</a> challenges bank CEOs to agree to stop funding fossil fuels, is rejected by every single one 
Jamie Dimon: &quot;That would be the road to Hell for America&quot; <a href="https://t.co/U7yr6AbtyF">pic.twitter.com/U7yr6AbtyF</a>
&mdash; Tom Elliott (@tomselliott) <a href="https://twitter.com/tomselliott/status/1572682957562978304?ref_src=twsrc%5Etfw">September 21, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Dimon said during a CNBC interview last fall that Biden was &#8220;getting energy completely wrong,&#8221; and that the war in Ukraine has only exacerbated the situation.
“We have it completely backwards, and in my view, America should have been pumping oil and gas,” Dimon continued. “And it should have been supported, you know, we’re trying to have our cake and eat it, too, a little bit. And so you have the, you have the problem this winter, which it sounds like they’ve got enough supply to get through this winter. But we have a longer term problem now, which is the world is not producing enough oil and gas to reduce coal, make the transition, create security for people. So I would put it in a critical category.”
“And this should be treated almost as a matter of war at this point, nothing short of that,” he concluded on the matter. “And obviously, America needs to play a real leadership role. America is the swing producer, not Saudi Arabia. And we should have gotten that right starting in March. It’s almost too late to get it right. Because obviously these are longer term investments.”
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
JPMorgan&#39;s Jamie Dimon: Biden&#39;s &quot;getting energy completely wrong&quot;; restricting drilling has actually &quot;made the climate worse &#8230; we have it completely backwards&quot;
&quot;This should be treated almost as a matter of war &#8230; America needs to play a leadership role&quot; <a href="https://t.co/TBieNorEtH">pic.twitter.com/TBieNorEtH</a>
&mdash; Tom Elliott (@tomselliott) <a href="https://twitter.com/tomselliott/status/1579838854839689216?ref_src=twsrc%5Etfw">October 11, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Key Interviews At the JPMorgan Global China Summit

America’s Top Banking CEO Suggests He May Run For President

America's Top Banking CEO Suggests He May Run For President

Elections

Nineteen <a href="https://www.dailywire.com/topic/republican-party" target="_blank" rel="noopener">Republican</a> state attorneys general asserted on Tuesday that <a href="https://www.dailywire.com/topic/jp-morgan" target="_blank" rel="noopener">JPMorgan Chase</a> “de-banked” organizations for their conservative and religious tendencies, calling on the nation’s largest <a href="http://dailywire.com/topic/banks" target="_blank" rel="noopener">financial</a> institution to respect the <a href="https://www.dailywire.com/topic/free-speech" target="_blank" rel="noopener">viewpoints</a> of their customers.
The officials stated in a letter to the firm provided to The Daily Wire that the National Committee for Religious Freedom, a “nonpartisan, faith-based nonprofit organization dedicated to defending the right of everyone in America to live one’s faith freely,” had its Chase account nixed three weeks into starting a relationship with the company and was asked to provide a list of their donors to the firm. A credit card processor owned by Chase likewise terminated the account for Family Council, a conservative organization working to strengthen traditional family values, while a firm called WePay, which is also owned by Chase, refused to serve Defense of Liberty, a Missouri-based political action committee.
JPMorgan Chase nevertheless contends that the firm remains devoted to diversity and inclusion because of its high scores on the Corporate Equality Index, an initiative from the Human Rights Campaign, a prominent LGBTQ activism and political lobbying organization.
“To be clear, banks generally have the right to conduct their business however and with whomever they choose,” the attorneys general said in the letter. “But a bank does not have the right to mislead its customers. Chase cannot call itself ‘inclusive,’ publicize that it ‘opposes discrimination in any form,’ promise to ‘prevent discrimination’ against customers, and then refuse to commit to the most basic equality of treatment and fair dealing.”
The officials asked JPMorgan Chase to participate in the survey component of the Viewpoint Diversity Score Business Index, an initiative from the Alliance Defending Freedom that evaluates prominent firms for their commitments to religious liberty and freedom of speech. JPMorgan Chase <a href="https://www.viewpointdiversityscore.org/company/jpmorgan-chase" target="_blank" rel="noopener">scored</a> 15% out of 100% due to “unclear or imprecise policies” which allow the bank to “deny service for arbitrary or politically biased reasons,” according to the letter.
JPMorgan Chase CEO Jamie Dimon, to whom the letter was addressed, has previously professed support for the liberties guaranteed by the United States and contended that free expression is a core component of free markets. “We live in the greatest country in the world predicated on foundational beliefs in freedom of speech, freedom of religion, freedom of enterprise, the sanctity of the individual, and the promise of equality and opportunity for all,” he said in <a href="https://www.banking.senate.gov/imo/media/doc/Dimon%20Testimony%209-22-22.pdf" target="_blank" rel="noopener">testimony</a> before the Senate Banking Committee last year.
The state attorneys general urged Dimon and his firm to act consistently with fundamental American values. “No individual or organization should have to worry that religious or political beliefs will limit access to financial services or undermine financial stability,” the letter continued. “Surely Chase’s promised inclusivity should extend to these fundamental characteristics of American identity. Accordingly, we call on Chase to stop its religious and politically biased discrimination and start living up to its commitment to an inclusive society where everyone feels welcomed, equal, and included.”
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The financial system has been leveraged by public and private actors to oppose certain political perspectives, including those often held by conservatives. Canadian Prime Minister Justin Trudeau <a href="https://www.dailywire.com/news/breaking-trudeau-announces-unprecedented-action-freezing-bank-accounts-of-freedom-convoy-protesters" target="_blank" rel="noopener">invoked</a> emergency powers last year to freeze the personal and corporate bank accounts of people involved with demonstrations against vaccine mandates, while PayPal <a href="https://www.dailywire.com/news/new-paypal-policy-lets-company-pull-2500-from-users-accounts-if-they-promote-misinformation" target="_blank" rel="noopener">announced</a> that the firm would withdraw funds from accounts deemed to be promoting racism or misinformation, a policy that the company later claimed was published by mistake.

JPMorgan Chase

JPMorgan Chase Repeatedly ‘De-Banked’ Conservative And Religious Groups, Republican State Officials Say

JPMorgan Chase Repeatedly ‘De-Banked’ Conservative And Religious Groups, State Attorneys General Say

Free Speech

General

Republican

The relationship between investment bank <a href="https://www.dailywire.com/topic/jp-morgan" target="_blank" rel="noopener">JPMorgan Chase</a> and deceased child sex predator <a href="http://dailywire.com/topic/jeffrey-epstein?_gl=1*1q43wp9*_ga*NzUzNDA5ODIxLjE2NzkzMjkzNzM.*_ga_CZKR9ZYKJP*MTY4MjA5NjU1OS4xMjguMS4xNjgyMTA3OTU3LjUwLjAuMA.." target="_blank" rel="noopener">Jeffrey Epstein</a> was deeper than the firm has previously admitted, according to a Friday <a href="https://www.wsj.com/articles/jpmorgan-jeffrey-epstein-525febe3?mod=hp_lead_pos1" target="_blank" rel="noopener">report</a> from The Wall Street Journal.
Recent <a href="https://www.dailywire.com/news/jpmorgan-chase-ceo-jamie-dimon-will-be-deposed-under-oath-about-banks-links-to-jeffrey-epstein" target="_blank" rel="noopener">lawsuits</a> filed against JPMorgan Chase assert that Epstein, who ran a hedge fund before his apparent suicide in 2019, benefited from special treatment at the investment bank because he attracted a number of wealthy clients. Even as attorneys insist that the firm is not liable for the crimes committed by Epstein, the firm continued to conduct business with him for five years after his 2008 state-level conviction for procuring prostitution from a minor.
Mary Erdoes, a senior lieutenant to veteran JPMorgan Chase CEO Jamie Dimon, made two visits to Epstein’s townhouse in the Upper East Side of Manhattan in 2011 and 2013, unnamed people familiar with the matter told The Wall Street Journal. Erdoes communicated with Epstein via email about a charitable fund JPMorgan Chase was seeking to launch.
John Duffy, who formerly led JPMorgan Chase’s private bank, reportedly visited the townhouse in 2013 for a meeting; despite multiple warnings from compliance officers, the company renewed an authorization one month later permitting Epstein to borrow funds against his account. Justin Nelson, a banker who worked with Epstein at JPMorgan Chase, traveled to a New Mexico ranch owned by the pedophile in 2016 and participated in a handful of meetings at the Manhattan townhouse between 2014 and 2017.
The report from The Wall Street Journal comes one month before Dimon, who has served as the bank’s chief executive since 2005, is scheduled to be deposed behind closed doors. Attorneys recently uncovered communications from employees who mentioned a “Dimon review” into the company’s relationship with Epstein, according to a <a href="https://www.ft.com/content/f5e7d581-6369-4b0b-92f4-b5fe9a55b2f2" target="_blank" rel="noopener">report</a> from the Financial Times likewise based upon unnamed sources. JPMorgan Chase faces legal actions from the government of the U.S. Virgin Islands and an unnamed Epstein victim contending that the firm benefited financially from the deceased hedge fund manager’s crimes.
JPMorgan Chase has denied that Dimon, widely regarded as one of the financial sector’s most powerful executives, had knowledge of a review into the firm’s associations with Epstein. Another source told the Financial Times that there exists no record of direct communications between the two individuals.
U.S. District Judge Jed Rakoff <a href="https://www.dailywire.com/news/epstein-victim-allowed-to-sue-big-banks-for-allegedly-enabling-sex-offender-we-will-leave-no-stone-unturned" target="_blank" rel="noopener">tossed</a> most charges against JPMorgan Chase and Deutsche Bank last month in the proposed class action lawsuits from the Epstein accuser and the U.S. Virgin Islands officials. Deutsche Bank received most of the Epstein hedge fund’s business after his partnership with JPMorgan Chase concluded in 2013.
“Epstein’s sex trafficking operation was impossible without the assistance of JPMorgan Chase, and later Deutsche Bank, and we assure the public that we will leave no stone unturned in our quest for justice for the many victims who deserved better from one of America’s largest financial institutions,” lawyers for the U.S. Virgin Islands and the Epstein victim, identified only as Jane Doe, asserted in a statement.
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Managers of the Epstein estate <a href="https://www.dailywire.com/news/epstein-estate-to-pay-more-than-105-million-to-u-s-virgin-islands" target="_blank" rel="noopener">agreed</a> to settle a lawsuit with the U.S. Virgin Islands last year related to the territory’s laws against fraud, sex trafficking, and child exploitation. The estate agreed to pay $105 million and half of the proceeds earned from selling the island of Little St. James, which acquired nicknames such as “Pedophile Island” after the demise of Epstein.

Epstein

JPMorgan Chase Had Deeper Ties To Jeffrey Epstein Than Previously Acknowledged: Report

JPMorgan Chase Had Deeper Ties To Jeffrey Epstein Than They Admitted: Report

Crime

Jeffrey Epstein

<a href="http://dailywire.com/topic/jp-morgan?_gl=1*112qc8c*_ga*NzUzNDA5ODIxLjE2NzkzMjkzNzM.*_ga_CZKR9ZYKJP*MTY4MDc5MDk5MS42OC4xLjE2ODA3OTUzNTcuNDQuMC4w" target="_blank" rel="noopener">JPMorgan Chase</a> CEO <a href="http://dailywire.com/topic/jamie-dimon?_gl=1*blp342*_ga*NzUzNDA5ODIxLjE2NzkzMjkzNzM.*_ga_CZKR9ZYKJP*MTY4MDc5MDk5MS42OC4xLjE2ODA3OTUzNTcuNDQuMC4w" target="_blank" rel="noopener">Jamie Dimon</a> called for lawmakers to take drastic action in favor of a <a href="http://dailywire.com/topic/climate-change" target="_blank" rel="noopener">renewable</a> energy transition, including the seizure of private property to make more land available for <a href="https://www.dailywire.com/topic/solar-power" target="_blank" rel="noopener">solar</a> and wind farms.
Dimon, regarded as one of the most powerful investment <a href="http://dailywire.com/topic/banks" target="_blank" rel="noopener">bankers</a> on Wall Street, <a href="https://reports.jpmorganchase.com/investor-relations/2022/ar-ceo-letters.htm">wrote</a> in his annual shareholder <a href="https://www.dailywire.com/news/the-positives-are-huge-jpmorgan-chase-ceo-changes-his-tune-about-the-economy" target="_blank" rel="noopener">letter</a> that “bolstering growth” in the global economy “must go hand in hand with both securing an energy future and meeting science-based climate targets.” He mentioned eminent domain, the power of a government to seize private land for public use, as one possible mechanism to accelerate the development of green energy sources.
“Permitting reforms are desperately needed to allow investment to be done in any kind of timely way. We may even need to evoke eminent domain,” he said. “We simply are not getting the adequate investments fast enough for grid, solar, wind and pipeline initiatives.”
Dimon also noted that the Russian invasion of Ukraine complicates efforts from many nations to move toward renewable energy due to elevated worldwide fuel costs. “We need to do more, and we need to do so immediately,” he continued. “Governments, businesses and non-governmental organizations need to align across a series of practical policy changes that comprehensively address fundamental issues that are holding us back. Massive global investment in clean energy technologies must be done and must continue to grow year-over-year.”
The executive contended that various Biden administration legislative actions, such as the Inflation Reduction Act and the Bipartisan Infrastructure Law, will enable $1 trillion in green energy initiatives as long as they are “implemented effectively.” The administration has indeed <a href="https://www.whitehouse.gov/climate/" target="_blank" rel="noopener">established</a> a “whole-of-government effort” to reduce carbon emissions.
The dire commentary from Dimon follows his previous <a href="https://www.dailywire.com/news/jpmorgan-ceo-scoffs-at-climate-crazy-energy-policies-gives-his-take-on-woke-capitalism" target="_blank" rel="noopener">observation</a> that rising energy prices have prompted many nations to <a href="https://www.dailywire.com/news/china-is-full-steam-ahead-with-new-coal-plants-as-the-west-goes-green" target="_blank" rel="noopener">increase</a> their reliance on coal, thereby worsening emissions and necessitating the continued production of cleaner fossil fuels. “We should focus on climate. The problem with that is because of high oil and gas prices, the world is turning back on their coal plants,” he remarked last year. “It is dirtier. Why can’t we get it through our thick skulls, that if you want to solve climate, it is not against climate for America to boost more oil and gas?”
Dimon has also <a href="https://www.dailywire.com/news/top-wall-street-ceo-slams-biden-for-going-hat-in-hand-to-saudi-arabia-for-oil-admits-investors-dont-give-a-s-about-wokeness" target="_blank" rel="noopener">condemned</a> the Biden administration for approaching hostile countries such as Saudi Arabia and Venezuela “hat in hand” to secure more oil. He likewise <a href="https://www.dailywire.com/news/americas-top-bank-executive-nukes-rashida-tlaib-when-she-pushes-climate-alarmism-absolutely-not" target="_blank" rel="noopener">told</a> lawmakers that banks refusing to fund new oil and gas ventures would create “the road to hell for America.”
Critics have nevertheless noted that JPMorgan Chase is involved with entities such as the Net-Zero Banking Alliance, an <a href="https://www.unepfi.org/net-zero-banking/" target="_blank" rel="noopener">initiative</a> of the United Nations which seeks to unify bank portfolios toward the goal of eliminating carbon emissions by 2050. Several Republican attorneys general <a href="https://www.dailywire.com/news/conservative-attorneys-general-investigate-six-major-banks-for-wokeness" target="_blank" rel="noopener">contended</a> last year that such objectives place the economic wellbeing of their constituents at risk due to higher energy costs as member companies “starve companies engaged in fossil fuel-related activities of credit on national and international markets.”
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Dimon noted that “climate risk” is a contentious issue among many investors as shareholder meetings convene. One member of the new Climate-Related Financial Risk Advisory Committee, a body recently <a href="https://www.dailywire.com/news/treasury-secretary-janet-yellen-claims-effects-of-climate-change-could-cascade-through-the-financial-system" target="_blank" rel="noopener">created</a> by the Treasury Department to “understand and mitigate the risks that climate change poses” to economic stability, is Catherine Ansell, the executive director of climate risk at JPMorgan Chase.

JPMorgan Chase CEO Suggests Seizing Private Property To Build More Solar Farms

JPMorgan Chase CEO Suggests Seizing Private Property For More Solar Farms

Climate Change

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