JP Morgan Chase & Co.
Chairman and CEO Jamie Dimon printed his annual letter to shareholders on Wednesday, and as traditional supplied a broad assessment of the state of the world after a yr of a world pandemic, specializing in the function of a company, classes from management and U.S.’ public coverage and the widening wealth hole. “Our nation is clearly underneath numerous stress and pressure from varied occasions: the COVID-19 pandemic, after all, which has taken extra American lives than the full misplaced in World Conflict II, the Korean Conflict and the Vietnam Conflict mixed, leading to acute financial misery for hundreds of thousands extra; the brutal homicide of George Floyd and the racial unrest that adopted; the divisive 2020 presidential election, culminating within the storming of the Capitol and the try and disrupt our democracy; and the seemingly inevitable, however nonetheless alarming and unnerving, rise of China, threatening America’s international preeminence,” Dimon wrote. America has “confronted robust instances earlier than,” he stated, including that these issues are fixable. However first the establishments which have misplaced the belief of the individuals — governments, colleges, media and companies — should regain it and perceive that the underlying drawback is inequality. “..The large wealth of our nation is accruing to the only a few,” he stated.