U.S. Economy and Markets

JPMorgan Chase CEO Jamie Dimon told CBS News that rejecting U.S. capitalism is “dead wrong,” while conceding the bottom third of earners have seen weak gains and blaming “bad policy” — including restrictive zoning and costly mortgage‑origination rules — for housing unaffordability and slower growth that he says costs roughly $20,000 in GDP per person for each lost percentage point. He called President Trump’s proposed ban on institutional buyers of single‑family homes “basically irrelevant” (only about 1% are owned by large firms) and said JPMorgan is exploring a prediction‑market‑like product but would not permit sports or political betting.