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JPMorgan's Dimon Seeks to Wield Scalpel, Not Ax, in 2014

No More Foot Shooting

Nevertheless, Dimon expressed optimism about JPMorgan's operating environment, particularly in the U.S. and among its investment banking businesses.

"I think investment banking could be stronger than many people think in 2014," Dimon said of the firm's advisory and underwriting businesses. He cited an expectation of 3% gross domestic product growth in 2014, and long-term economic growth trends in emerging markets in Asia and Latin America.

Dimon also said a budget deal brokered by Rep. Paul Ryan (R., Wisc.) and Sen. Patty Murray (D., Wash.) could resolve political uncertainty, which has cast a pall over an incipient U.S. economic recovering in recent years.

"I think this budget deal is a big deal," Dimon said. He added that he planned to send Ryan and Murray an email that said: "Thank you, thank you, thank you and God bless you."

-- Written by Antoine Gara in New York.

Stock quotes in this article: JPM 

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