Big bank CEOs can’t wait for Trump. Here’s what they’re saying

While JPMorgan Chase CEO Jamie Dimon didn’t directly reference the election, he mentioned a new regulatory environment and potential inflation from the incoming administration’s policies within the bank’s fourth-quarter earnings report.

“Regarding regulation, we have consistently said that regulation should be designed to effectively balance promoting economic growth and maintaining a safe and sound banking system,” Dimon said. “It is possible to achieve both goals. This is not about weakening regulation — we maintain a fortress balance sheet, evidenced by $547 billion of total loss-absorbing capacity and $1.4 trillion of cash and marketable securities — but rather about setting rules that are transparent, fair, holistic in their approach and based on rigorous data analysis, so that banks can play their critical role in the economy and markets.”

“The U.S. economy has been resilient,” he added. “Unemployment remains relatively low, and consumer spending stayed healthy, including during the holiday season. Businesses are more optimistic about the economy, and they are encouraged by expectations for a more pro-growth agenda and improved collaboration between government and business. However, two significant risks remain. Ongoing and future spending requirements will likely be inflationary, and therefore, inflation may persist for some time. Additionally, geopolitical conditions remain the most dangerous and complicated since World War II. As always, we hope for the best but prepare the Firm for a wide range of scenarios.”