Jamie Dimon Says It’s Good Both Parties’ ‘Wing Nuts’ Weren’t Elected

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(Bloomberg) — JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon praised the results of last month’s US midterm elections, saying cooperation in Congress may be more likely since both parties’ “wing nuts didn’t get elected.”

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“I think there’s a good chance they will get some good things done,” Dimon said in an interview with CBS’s “Face the Nation” broadcast on Sunday, citing accomplishments of divided Congresses under presidents Bill Clinton, George W. Bush and Barack Obama. 

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Dimon warned that the energy crisis could get worse, repeating a call for a “Marshall Plan” for energy. During a Congressional hearing in September, Dimon told lawmakers that the US isn’t getting energy policy right and called for proper rules and regulations to keep energy secure now while transitioning to cleaner energy over time. 

“The Europeans will get through it this winter, but this oil and gas problem is going to go on for years,” Dimon said. “So if I was in the government or anywhere else, I’d say, I have to prepare for getting much worse. I hope it doesn’t, but I would definitely be preparing for it to get much worse.” 

Dimon said he doesn’t know whether there will be a mild or harsh recession, but “if it happens, we’re going to be fine.” 

He has warned for months of economic headwinds that could prompt US and global recessions next year. 

Read more: Dimon Says a ‘Soft Landing’ Is Unlikely for the US Economy