4,000 business owners were forced out by the FED! JPMorgan Chase's Dimon: 80% of U.S. mortgage business flows to non-bank institutions, and the regulatory direction is unclear

JP Morgan CEO Jamie Dimon spoke this morning 4/14 about the current economic situation in the United States. He pointed out that the Federal Reserve (FED) regulatory mechanism needs reform, otherwise it will only force more businesses to leave due to regulatory costs. Tax cuts, promoting energy exports, improving regulatory efficiency, and providing substantial education and employment incentive measures are the core to enhancing America's competitiveness again.

Retaining Capital and Talent as Key Focus, EITC More Effective in Stimulating Employment

Discussing tax reform and congressional extension of tax cuts, Dimon noted: "Reducing the corporate tax rate from 36% to 21% is just aligning with the global average."

He emphasized that keeping capital and talent in the United States is key, and suggested:

• Expand Earned Income Tax Credit (EITC) to encourage low-income groups to enter the workforce

• Directly provide government subsidies to grassroots workers to create more families and stabilize social order

Regulatory System Should Adopt Subtraction Thinking, Avoid Excessive Regulation

Dimon criticized that each industry is currently monitored by multiple units, with many inexperienced scholars making rules. He suggested:

• Change regulatory logic from "more" to "more reasonable"

• Reduce cumbersome processes, such as requiring three licenses and six months of waiting just to move or get a haircut

• Excessive regulation hurts small businesses and low-income groups the most; large companies can survive, but small businesses will go bankrupt

Energy Policy Should Promote the US as a Global Supplier

Regarding energy self-sufficiency, Dimon believes: "US natural gas is clean, safe, and cheap, and can be sold to allies, helping the world and helping itself."

He cited Panasonic's battery factory in Kansas, which created 4,000 high-paying technical positions.

He further urged the US to strengthen energy R&D (such as carbon capture, hydrogen energy) and turn energy into a strategic export product.

(Note: Carbon capture involves intercepting carbon dioxide emitted by factories to manufacture other products, such as building materials, carbonated drink bubbles, etc.)

Federal Reserve Needs Thorough Reform, Don't Let Businesses Bear Excessive Compliance Costs

Dimon supports the Federal Reserve (FED) vice chairman nominee but frankly stated: "We've been discussing Basel III for 10 years, and the regulations have become increasingly numerous and complex." He pointed out:

• The number of publicly traded companies in the US has dropped from 8,000 to 4,000, driven away by compliance costs

• Too many fragmented regulatory units make banks inefficient and failed to address risks at Silicon Valley Bank and First Republic Bank, leading to their collapse

Regulation Should Distinguish Between Large and Small Banks, Not Universally Applied

Dimon criticized the current uniform bank regulations: "Local small banks cannot be subject to the same regulatory standards as JP Morgan, as they don't have the same resources." He urged:

• Relax compliance burdens for local banks

• Do not require each business representative to have a compliance officer, as this would make small banks unsustainable

Shadow Banking Expanding Rapidly, Regulation Unclear

Dimon noted that approximately 80% of mortgages in the US are now handled not by traditional banks, but by non-bank institutions like Apollo and BlackRock.

He criticized the regulatory authorities for not conducting a cost-benefit assessment and not asking themselves what system they truly want.

Advice for Young People: Broaden Your Horizons

Finally, Dimon answered: "Read more, learn more, don't just listen to voices in your echo chamber, understand both left and right." He emphasized:

• Take care of your physical, mental, and social well-being

• Respect everyone, whether they are corporate executives or taxi drivers

• American youth are about to inherit a country worth 200 to 300 trillion dollars, living to 120 is not a dream, AI will cure cancer, and life actually has great potential