Jamie Dimon calls U.S. government ‘inefficient’ and says Elon Musk’s DOGE effort ‘needs to be done’

Jamie Dimon calls U.S. government ‘inefficient’ and says Elon Musk’s DOGE effort ‘needs to be done’


JPMorgan CEO Jamie Dimon: Consumers are back, almost normal

JPMorgan Chase CEO Jamie Dimon on Monday said the U.S. government is inefficient and in need of work as the Trump administration terminates thousands of federal employees and works to dismantle agencies including the Consumer Financial Protection Bureau.

Dimon was asked by CNBC’s Leslie Picker whether he supported efforts by Elon Musk’s Department of Government Efficiency. He declined to give what he called a “binary” response, but made comments that supported the overall effort.

“The government is inefficient, not very competent, and needs a lot of work,” Dimon told Picker. “It’s not just waste and fraud, its outcomes.”

The Trump administration’s effort to rein in spending and scrutinize federal agencies “needs to be done,” Dimon added.

“Why are we spending the money on these things? Are we getting what we deserve? What should we change?” Dimon said. “It’s not just about the deficit, its about building the right policies and procedures and the government we deserve.”

Dimon said if DOGE overreaches with its cost-cutting efforts or engages in activity that’s not legal, “the courts will stop it.”

“I’m hoping it’s quite successful,” he said.

In the wide-ranging interview, Dimon also addressed his company’s push to have most workers in office five days a week, as well as his views on the Ukraine conflict, tariffs and the U.S. consumer.

Watch CNBC's full interview with JPMorgan CEO Jamie Dimon



Source

Detroit auto stocks jump on report of tariff relief for U.S. vehicles
Business

Detroit auto stocks jump on report of tariff relief for U.S. vehicles

Production is now set to begin at the former Detroit-Hamtramck assembly plant, less than two years after GM announced the massive $2.2 billion investment to fully renovate the facility to build a variety of all-electric trucks and SUVs. Photo by Jeffrey Sauger for General Motors DETROIT – Shares of the Detroit automakers closed higher Friday […]

Read More
Tesla, GM lead record U.S. EV sales this year as federal incentives end
Business

Tesla, GM lead record U.S. EV sales this year as federal incentives end

A Tesla Cybertruck and GMC Sierra Denali EV First Edition next to one another. Michael Wayland | CNBC DETROIT – Tesla and General Motors are leading the U.S. automotive industry this year in record domestic sales of all-electric vehicles, as consumers hurried to buy EVs before up to $7,500 in federal incentives for each purchase […]

Read More
The wealth of the top 1% reaches a record  trillion
Business

The wealth of the top 1% reaches a record $52 trillion

A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. The top 10% of Americans added $5 trillion to their wealth in the second quarter as the stock market rally continued to benefit […]

Read More