CNN BUSINESS | Jamie Dimon sounds the alarm on the future of American prosperity

Jamie Dimon, CEO of JPMorgan, wrote in his annual shareholder letter that government dysfunction is slowing down America’s economy. “It is hard to look at these issues in their totality and not conclude that they have a significant negative effect on the great American economic engine,” he said.

New York (CNN Business)Jamie Dimon is very bullish on the US economic recovery from the pandemic. And yet the JPMorgan Chase CEO is deeply concerned about the future of America.

In his annual shareholder letter Wednesday, Dimon wrote that the Covid-19 pandemic, the “horrific murder” of George Floyd and the painfully slow economic growth of the past two decades are all symptoms of a broader problem: “inept” public policy and broad government dysfunction.

“Unfortunately, the tragedies of this past year are only the tip of the iceberg — they merely expose enormous failures that have existed for decades and have been deeply damaging to America,” Dimon wrote, adding that the nation was “totally unprepared” for the deadly pandemic.  —read more—