JPMorgan Chase & Co Chief Executive Jamie Dimon plans to tell Congress that the U.S. economy faces 'storm clouds,' according to prepared testimony.
JP Morgan CEO Jamie Dimon speaks at the Boston College Chief Executives Club luncheon in Boston, Massachusetts, U.S., November 23, 2021. REUTERS/Brian SnyderChief Executive Jamie Dimon plans to tell Congress that the U.S. economy faces "storm clouds," according to prepared testimony.
"While these storm clouds build on the horizon, even the best and brightest economists are split as to whether these could evolve into a major economic storm or something much less severe," Dimon's testimony states.He also said strict rules that require banks to hold more capital pose a significant economic risk, holding back banks' ability to lend.
The hearing will seek CEO testimony on a range of issues, including consumer protection, compliance issues, diversity and "issues relating to the public interest" such as worker rights and abortion access, according to the memo.
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