JPMorgan CEO Dimon: US economy resilient but significant risks persist

Jimmy Damon, CEO of JPMorgan Chase on Tuesday, said although the American economy remained strong during the second quarter of this year, there are still possible buildings for economic expectations.

“The American economy remained flexible” and noted that although there are possible reinforcements coming from the legislation of the Republican tax package, the other opposite winds can reduce economic expectations to move forward.

“The completion of the tax reform and potential disruption is positive for economic expectations. However, major risks – including definitions and commercial uncertainty, exacerbation of geopolitical conditions, high financial deficit and high asset prices,” said Damon.

Demon said that JPMorgan tends to measure it when he makes expectations due to the previous crises that have appeared and caught a lot of guard.

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“Our prediction of the future is very complicated. Maybe you heard me say that sometimes this is a waste of time. Most people cannot choose the reflection points.”

The CEO of the country’s largest bank in the country also discussed president Donald Trump’s conflict with the Federal Reserve and its leadership.

Trump has repeatedly called for the Federal Reserve to reduce interest rates, and mocked the Federal Reserve Chairman Jerome Powell with easy comments and public study to launch it.

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Damon warned the Trump administration in an attempt to overthrow the President of the Federal Reserve Jerome Powell. (Qilai Shen / Bloomberg via Getty Images / Getty Images)

The president said that he will not try to shoot Powell, who lacks the legal authority to do it except for the reason, although his allies have proposed a renewal project at the Federal Reserve headquarters, which has witnessed cost excesses could provide a reason for an attempt to end.

“The president said he will not try to remove Jay Powell,” Damon told reporters in a phone call. “The Federal Reserve Independence is crucial, not only for the current Federal Reserve Speaker, which I respect, but to the next Federal Reserve Speaker.”

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Damon added: “Play with the federal reserve can be severe consequences, in the opposite of what you may contemplate,” Damon added.

Reuters contributed to this report.