JPMorgan's Dimon Criticizes Bank Capital Rules, Warns of Economic Risks Ahead

JPMorgan Chase CEO Jamie Dimon criticized proposed U.S. capital rules for banks as lacking transparency and potentially harmful to economic growth. He said the rules could cause banks to pull back lending.

Dimon questioned the rationale behind the rules proposed by U.S. regulators. He called for more openness and fairness in the process.

Dimon said JPMorgan is now more cautious on business opportunities in China due to economic uncertainty. He advocated for real U.S.-China engagement on security and trade.

While still positive on the current U.S. economy, Dimon warned quantitative tightening could have negative impacts in 12-18 months as fiscal stimulus is withdrawn.

Dimon said assuming the economic environment will be booming for years is a mistake given quantitative tightening and the ongoing Ukraine war.