STORY HIGHLIGHTS


JP Morgan CEO blasts washington

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Added On July 16, 2017

INTRO:
 
JP Morgan Chase boss Jamie Dimon condemned the state of US politics on Friday, saying that political gridlock is hurting the US economy.
 
PKG:
 
He says Americans must "get the act together" or risk limiting themselves to 1.5 percent to 2 percent growth.
 
Dimon, who turned down the job of being Trump's Treasury Secretary, says quote "It would be much stronger growth had we made intelligent decisions and were there not gridlock."
 
The bank boss has pushed for investment in roads, bridges and other infrastructure and called for lower corporate taxes. 
 
U.S. President Donald Trump has promised to prioritise those policies, but his agenda has been derailed by conflict-of-interest issues and the investigation into his presidential campaign's ties with Russia.
 
Republicans have been divided among themselves over healthcare reform, causing uncertainty in one of the largest sectors in the economy.
 
Dimon was speaking as JP Morgan Chase reported a 13 percent rise in second quarter profits to 7 billion U.S. dollars, lifted by strong growth of loans and deposits.
 
The bank has now recorded profits of 26.5 billion dollars over the past 12 months, the highest ever for an American bank.