JPMorgan’s Dimon: midsize banks should be allowed to merge, soft landings are ‘hard’

Midsize U.S. banks should be allowed to merge if their boards see value in them, JPMorgan Chase (NYSE:JPM) Chairman and CEO Jamie Dimon said on Tuesday. The government shouldn’t be involved in every small merger, he added in an interview on Bloomberg Television.

He still remains more skeptical on the economy than many. “Soft landings are hard” to achieve, Dimon noted.

The Fed’s 50 basis-point rate cut was “alright” for the short term. Still, there are a lot of inflationary dynamics for the long term, including the federal deficit, geopolitical turmoil, and demographics.

Longer rates could stay where they are or tick up a little, he added.

“I can’t run for president,” Dimon said, when asked about the oft-repeated suggestion that he should seek the office. He said he will decide on which presidential candidate to support. “I will vote.”

When Russia invaded Ukraine, it underscored the lesson that “the world is not a safe place,” he said.”We need a very strong military, we need a very strong economy.”

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