{"id":264651,"date":"2025-11-15T17:32:10","date_gmt":"2025-11-15T17:32:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/264651\/"},"modified":"2025-11-15T17:32:10","modified_gmt":"2025-11-15T17:32:10","slug":"jpmorgan-ceo-jamie-dimon-warns-america-is-going-the-way-of-europe-we-better-start","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/264651\/","title":{"rendered":"JPMorgan CEO Jamie Dimon warns: America is going the way of Europe, we better start\u2026"},"content":{"rendered":"

\"JPMorganFile photo: JPMorgan Chase & Co chief executive Jamie Dimon (Picture credit: AP) JPMorgan Chase CEO Jamie Dimon issued a stark warning that the United States is headed toward European-style economic decline unless it immediately reverses anti-business policies driving companies out of major cities. “In 30 years, if we don’t fix these things, we are going the way of Europe,” Dimon told the American Business Forum in Miami, citing the continent’s shrinking share of global GDP as evidence of what happens when governments chase away businesses with excessive regulation and taxation.The 69-year-old Wall Street chief said America must start “fixing these things” now before cities and states lose their competitive edge to nations that embrace growth-friendly policies. His comments came as newly elected New York Mayor Zohran Mamdani prepares to implement a progressive agenda including higher taxes on the wealthy and expanded social programs.<\/p>\n

Cities driving out business will see policies backfire, Dimon warns<\/p>\n

Dimon warned that jurisdictions adopting hostile business climates will face severe consequences as companies relocate to more favorable environments. “Everyone has to compete\u2014between countries, between states, and between cities,” he said at the Saudi Arabia-backed summit. “A bunch of these states that are driving business out\u2014it will backfire.”The JPMorgan CEO pointed to Florida and Texas as examples of states successfully luring Wall Street firms away from high-tax cities like New York. He argued that “beating up business as a way to fix things”\u2014whether addressing crime, education, or cost of living\u2014ultimately shrinks tax bases and hurts the working-class people such policies claim to help.”A lot of those cities do things in the name of good, which create bad,” Dimon said. “All of these bad policies, in my view, usually hurt the lower-paid people more.”<\/p>\n

Democrat-led cities must reduce ‘blue tape’ regulations or face decline<\/p>\n

Dimon called on Democrat-controlled cities to eliminate what he termed “blue tape”\u2014excessive regulations that stifle economic growth and innovation. Without naming Mamdani directly, he dismissed the mayor-elect’s campaign promises of free buses and childcare funded by taxing corporations and wealthy residents.”This notion of somehow being anti-business is going to help average American citizens, even the lower paid\u2014I don’t agree with the concept,” Dimon said.The remarks came one day after Dimon reached out to Mamdani, offering to advise the 34-year-old democratic socialist despite previously calling his policies “ideological mush” and labeling him “more Marxist than socialist.” Speaking to CNN Wednesday, Dimon said he left the mayor-elect a voicemail and suggested he consult Detroit Mayor Mike Duggan, who revived his bankrupt city through business partnerships.A JPMorgan spokesman said Dimon “simply reiterated his long-held belief that government, business, community leaders and others need to collaborate on executing sensible policy.”<\/p>\n","protected":false},"excerpt":{"rendered":"File photo: JPMorgan Chase & Co chief executive Jamie Dimon (Picture credit: AP) JPMorgan Chase CEO Jamie Dimon…\n","protected":false},"author":2,"featured_media":264652,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[84,1294,5499,109287,19592,109288,56,54,55,5012],"class_list":["post-264651","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-jamie-dimon","tag-jpmorgan-ceo","tag-jpmorgan-chase","tag-new-york-mayor-zohran-mamdani","tag-uk","tag-united-kingdom","tag-unitedkingdom","tag-zohran-mamdani"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/264651","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=264651"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/264651\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/264652"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=264651"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=264651"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=264651"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}