JPMorgan Chase CEO Jamie Dimon expressed frustration at the U.S. federal government during the company’s earnings conference call Friday.

“It’s almost embarrassing being an American citizen … and listening to the stupid s— we have to deal with in this country,” Dimon said in response to an analyst question.

“Since the Great Recession, which is now 8 years old, we’ve been growing [at] 1.5 to 2 percent in spite of the political gridlock,” he said. The “American business sector is powerful and strong. My sense is there would be much stronger growth if there were more intelligent decisions and less gridlock.”

JPMorgan Chase reported earnings that handily beat Wall Street estimates Friday. However, the bank lowered its forecast for lending revenue.

Shares erased earlier gains to fall more than 1 percent in premarket trade.

Source

NO COMMENTS