JPMorgan Chairman and CEO Jamie Dimon urged all presidential candidates should stop their "denigration" and "finger-pointing."
"If the next president does the right things around immigration, corporate and individual tax reform, [and] infrastructure spending, America would be booming,"
Dimon told CNBC. "That boom would help the people who need it the most, the people at the bottom of the ladder."
"What I know doesn't work is denigration, scapegoating, finger-pointing, and yelling," Dimon said in what appeared to be a veiled swipe at GOP presumptive nominee Donald Trump, CNBC reported.
"What does work," Dimon said, "is collaboration, analysis and getting people together across the spectrum of civic society, not-for-profit, education, government and business."
Dimon also rejected theories that the stock market bottomed for the year on Feb. 11 because he bought 500,000 shares of his company's stock that day.
"It was serendipity that I bought at the bottom, as a opposed to I made the stock market go up," Dimon said. "The stock market has hundreds of millions of participants making their own decisions everyday," he continued. "I think I was just fortunate on the other side."
Meanwhile, he said it's impossible to say how the U.S. presidential election is going to influence the economy.
Warren Buffett, chairman and chief executive officer of Berkshire Hathaway Inc, has said a Trump presidency wouldn’t be the blow to U.S. business that some fear,
Bloomberg reported.
“If either Donald Trump or Hillary Clinton becomes president, and one of them is very likely to be, I think Berkshire will continue to do fine,” Buffett, 85, said at the company’s annual shareholders meeting recently in Omaha, Nebraska.
The outcome of November’s presidential election is unlikely to change the fact that the U.S. is a “remarkably attractive place in which to conduct a business,” said Buffett, who endorsed Democrat Clinton at an Omaha rally in December. U.S. companies have enjoyed “terrific” returns on equity despite a sustained period of ultra-low interest rates, he added.
Buffett, who has criticized Trump in the past and scorned politicians’ pessimism about the country, looked past the current voter angst for a longer view of U.S. economic prospects.
‘Far More’
“Twenty years from now, there’ll be far more output per capita in the United States in real terms than there is now. In 50 years, it’ll be far more,” Buffett said. “No presidential candidate or president is going to end that. They can shape it in ways that are good or bad, but they can’t end it.”
Asked how a Trump presidency might affect Berkshire’s business, Buffett replied, “That won’t be the main problem.” He didn’t elaborate.
(Newsmax wire services contributed to this report).
© 2024 Newsmax Finance. All rights reserved.