JPMorgan Chase CEO Jamie Dimon is making clear his frustrations with the political gridlock in Washington.
On a conference call with analysts and investors on Friday to discuss the bank’s better-than-expected results, he went off about the country’s frustrating current political situation.
“It’s almost an embarrassment be an American citizen traveling around the world and listening to the stupid s— we have to deal with in this country and at one point we have to get our act together,” said Dimon.
He said the country isn’t making important investments in infrastructure and education and that tax policy isn’t competitive. Dimon applauded the pro-business policies in places he has recently visited like France, Argentina, Israel and Ireland.
“It’s amazing to me that every single one of those countries understands that practical policies to promote business growth is good for the average citizens of those countries for jobs and wages,” said Dimon, adding that we “no longer get it” in America.
Dimon noted that it’s been nearly a decade since the financial crisis and that the U.S. economy has been growing at a 1.5% to 2% clip “despite the stupidity and political gridlock.” He said it will continue to grow regardless of the political situation but that the country is missing out on faster growth.
This isn’t the first time that Dimon has tackled the problems that are facing the nation. He has spoken out on issues ranging from education in the inner-cities to the opioid crisis. Last year, he raised wages for all his bank tellers and other hourly employees, noting that it was the “right thing to do” and that wages had too long been stagnant for many Americans.
Dimon, who is a member of President Donald Trump’s advisory council of business leaders, didn’t go so far as to pin the blame on the Trump Administration. Instead he voiced frustration at the media, which he said should be spending more time focusing on these issues and less on the intricacies of quarterly results.
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