JP Morgan established a war department to keep up with Trump’s policy changes
RNC Chairman Michael Manley discusses big tech investment in AI on ‘The Evening Edit’ on President Trump’s first day.
Financial giant JPMorgan is deploying a “war unit” to monitor the Trump administration’s sweeping policy changes, which it believes will bring out America’s “animal spirits.”
“At JPMorgan, we have a war room set up to analyze and evaluate each of these, so they’re up all night,” Mary, CEO of JPMorgan Chase’s asset and wealth management business line. Erdos addressed the crowd at the World Economic Forum in Davos.
A JPMorgan spokeswoman said: “It is our standard practice to analyze the impact of any policy proposal on our business and the impact it will have on our clients and the communities in which we operate. So naturally there is a team to review these new developments.” Fox News Digital.
President Donald Trump began his second term with a raft of executive orders, revoking 80 of Biden’s executive orders. During his first term, Trump campaigned on imposing tariffs, lowering corporate tax rates and extending the tax cuts.
President Trump began his second term with a series of executive orders. (Joe Radle/Getty Images/Getty Images)
Trump has signed dozens of executive orders, many but not campaign promises
“The last 24 hours are showing that there will be a lot of changes that we all have to integrate,” Erdos said.
Erdos told a crowd of international business leaders and politicians that Trump appeared to be creating a “very pro-business environment” in the United States.
“Time will tell but a lot of this is what you do to have a very commercial environment,” she added.
Trump’s inauguration was attended by a number of business leaders, including CEO Mark Zuckerberg of Tesla and SpaceX, Elon Musk, Amazon founder Jeff Bezos and UFC CEO Dana White.
A JPMorgan executive says the US economy is in “go mode” and America’s “animal spirits” are finally being released. She also praised Trump for ending work-from-home policies by ordering federal workers to work out of the office.
JP Morgan believes Trump’s turnaround will be good for the economy. (Reuters/Brendan McDermid/Reuters Photos)
“Thank God the US government did it, and hopefully this will put us ahead of other governments around the world so we can compete.”
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Erdos continued to tear down the Biden administration’s endless red tape to “impede” business in the US.
“If you look at the last administration and the number of significant new regulations, there were eight times the number of significant new regulations compared to the pre-Trump administration,” she said. “With that comes millions of man-hours of paperwork. Work that clogs up the system and keeps the economy from continuing that healthy flywheel. So we’re really looking forward to that.”
