Jamie Dimon, the J.P. Morgan Chase CEO who has been bullish on the U.S. economic system, stated that the federal government shutdown might sap all development from the world’s greatest economic system.
“Somebody estimated that if it goes on for the entire quarter, it may well cut back development to zero,” Dimon advised reporters on a media name to debate fourth-quarter outcomes. “We simply need to cope with that. It’s extra of a political problem than the rest.”
Within the earnings launch, Dimon addressed the U.S. political dysfunction that’s now threatening to gradual financial development: In 2019, “we urge our nation’s leaders to strike a collaborative, constructive tone, which might reinforce already-strong client and enterprise sentiment. Companies, authorities and communities must work collectively to unravel issues and assist strengthen the economic system for the advantage of everybody.”
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This text initially appeared on USA TODAY: Jamie Dimon says shutdown could reduce economic growth to zero this quarter if it continues