Dimon Discusses JPMorgan's LA Expansion and Inflation Views
JPMorgan Chase CEO Jamie Dimon spoke with CNBC's Leslie Picker on 'Closing Bell: Overtime' about the bank's expansion in Los Angeles and its initiatives to support small businesses. The bank is a sponsor of the 2028 L.A. Olympics and plans to help small businesses secure contracts and financing through the event.
Dimon also discussed the bank's $750 billion American Dream Initiative, which aims to support homeownership in the US by providing access to capital and removing restrictions on building. He noted that supply is a major issue in housing affordability, citing permitting, approvals, and local zoning requirements as key challenges.
On inflation, Dimon said it's still present but not as high as some people expect. He attributed this to geopolitical tensions, global deficits, and infrastructure needs. When asked about his views on the bond market, he stated that the recent reset is a 'skunk at the party' and may lead to higher interest rates.