Archive for the ‘March 13’ Category
President Trump’s economic agenda has “woken up the animal spirits” in the U.S., according to J.P. Morgan Chase & Co chairman and chief executive officer Jamie Dimon.
During an interview with Bloomberg TV, Dimon said Trump’s pro-growth agenda has reinvigorated business owners and consumers alike.
“[It] will be good for growth, good for jobs, good for Americans,” Dimon said.
“Animal spirits” is a term coined by famed economist John Maynard Keynes to describe emotions and instincts that help bolster consumer confidence.
On “Your World” today, market watcher Larry Glazer said those “animal spirits” are absolutely necessary if we’re going to get the economy booming again after the “slow-growth Obama years.”
He said that a number of consumer sentiment and confidence indexes show that Americans are feeling better about the economy, and much of that can be attributed to President Trump.
“When you at the Election Day moving forward, there’s no doubt sentiment has changed,” Glazer said. “Businesses feel more optimistic about the future. And that’s what you need for companies to commit capital.”
JPMorgan Chase CEO Jamie Dimon seems hopeful that better times for the economy lie ahead under President-elect Donald Trump. “The U.S. economy may be building momentum,” Dimon said. “Looking ahead there is opportunity for good, rational and thoughtful policy decisions to be implemented, which would spur growth, create jobs for Americans across the income spectrum and help communities.”Dimon didn’t mention Trump by name or cite specifics about the possibility of Trump and the Republican-led Congress unwinding some of President Obama’s financial reforms
Answering a question from CNNMoney, Dimon said he was not overly worried about Trump’s attacks against companies for doing business in Mexico or about his protectionist rhetoric — even though JPMorgan Chase does business around the globe.
Dimon said he’s putting aside the Trump one-liners and is “comforted” that Trump has put “professionals” in the administration such as treasury nominee Steven Mnuchin, a former Goldman Sachs exec, billionaire investor Wilbur Ross for commerce secretary and former ExxonMobil (XOM) CEO Rex Tillerson for secretary of state.
He says leaders in the public and private sector need to work together to find solutions for more people.
Read the full memo below:
We are going through a period of profound political and economic change around the world, and American citizens showed that deep desire for change in voting to elect Donald Trump as the 45th President of the United States. We have heard through democratic processes in both Europe and the United States the frustration that so many people have with the lack of economic opportunity and the challenges they face. We need to listen to those voices.
We have just been through one of the most contentious elections in memory, which can make it even harder to put our differences aside. But that makes it more important than ever to bind the wounds of our nation and to bring together Americans from all walks of life. Recognizing that our diversity is a core strength of our nation, we must all come together as fellow patriots to solve our most serious challenges.
Leaders from across the public, private and nonprofit sectors need to collaborate to find
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America is best when we come together with clear leadership, expertise and the political will to take on difficult challenges and get things done. No one should ever doubt the strength and resilience of our country and our democracy.
JPMorgan Chase has a proud history of supporting our communities and our countries. Through your outstanding efforts, we have built a great company that will continue to thrive — as we continue to focus on helping to serve our clients and communities. We will also continue to help address the important public policy issues of the day and the underlying economic challenges throughout the world.
I’m optimistic about America’s future and the role our company will continue to play as we help the nation address our challenges and move forward together.
Part-time Angel Investor and full time J. P. Morgan CEO, Jamie Dimon, has put his money where his mouth is and invested $100M in the recovering Detroit economy.
Jamie Dimon came to the defense of his fellow bankers on Monday, and went after Hillary Clinton while he was at it.Jamie Dimon said: “When people blanket a whole class of people…that’s just unfair.”
According to Dimon, The October 15, 2014 gyration, when U.S. Treasury yields fluctuated by almost 0.4 percentage point in one day, was an “unprecedented move” that could have profound consequences in a stressed environment,
John Torrence Tate, Jr. (born March 13, 1925) is an Americanmathematician, distinguished for many fundamental contributions inalgebraic number theory, arithmetic geometry and related areas in algebraic geometry. He is professor emeritus at Harvard University. He was awarded the Abel Prize in 2010.
Tate’s thesis (1950) on Fourier analysis in number fields has become one of the ingredients for the modern theory of automorphic forms and their L-functions, notably by its use of the adele ring, its self-duality and harmonic analysis on it; independently and a little earlier, Kenkichi Iwasawa obtained a similar theory. Together with his teacher Emil Artin, Tate gave a cohomological treatment of global class field theory, using techniques of group cohomology applied to the idele class group and Galois cohomology. This treatment made more transparent some of algebraic structures in the previous approaches to class field theory which used central division algebras to compute the Brauer group of a global field.
Subsequently Tate introduced what are now known as Tate cohomology groups. In the decades following that discovery he extended the reach of Galois cohomology with the Poitou–Tate duality, the Tate–Shafarevich group, and relations withalgebraic K-theory. With Jonathan Lubin, he recast local class field theory by the use of formal groups, creating theLubin–Tate local theory of complex multiplication.
He has also made a number of individual and important contributions to p-adic theory; for example, Tate’s invention ofrigid analytic spaces can be said to have spawned the entire field of rigid analytic geometry. He found a p-adic analogue of Hodge theory, now called Hodge–Tate theory, which has blossomed into another central technique of modernalgebraic number theory. Other innovations of his include the ‘Tate curve‘ parametrization for certain p-adic elliptic curves and the p-divisible (Tate–Barsotti) groups.
Many of his results were not immediately published and some of them were written up by Serge Lang, Jean-Pierre Serre,Joseph H. Silverman and others. Tate and Serre collaborated on a paper on good reduction of abelian varieties. The classification of abelian varieties over finite fields was carried out by Taira Honda and Tate (the Honda–Tate theorem).
The Tate conjectures are the equivalent for étale cohomology of the Hodge conjecture. They relate to the Galois action on the l-adic cohomology of an algebraic variety, identifying a space of ‘Tate cycles‘ (the fixed cycles for a suitably Tate-twisted action) that conjecturally picks out the algebraic cycles. A special case of the conjectures, which are open in the general case, was involved in the proof of the Mordell conjecture by Gerd Faltings.