dimon: it is a slowdown. october,ldilocks in going at 3% things look good, fed raising rates gently. global growth in japan, europe, china, and now a slowdown. it is probably a slowdown as opposed to on our way to a deeper session. even the imf things we will have global growth of 2.9% last year, down from the prior projection of 3.5%. the shutdown looks like we will grow at 2% to 2.5%. japan has grown a little bit, but there was a slowdown.china is probably the most serious one, and ramifications for the rest of the world. china growing at 5% is $600 billion of gdp growth in the world per year. china has the wherewithal, they owe the money in the country to themselves, and they can macro manage a wit you cannot do in the u.s. there are seven people who are quite competent to say, you will lend to you, you will hire people, you will build that bridge, and it kind of works, it will work for another five or 10 years. toy have the wherewithal recapitalize banks when there's a problem with the financial system, s

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dimon: you too. lisa: can i take a picture real quick? dimon: of course you can.is: i felt that cory and lisa needed to have some small wins along the way. being in business isn't about making a million dollars in the first year. it's about enjoying and celebrating the little wins, and then letting them mount up over time. cory: oh, wow. that was amazing. lemonis: he loved it. cory: yeah. lisa: like, i'm not built for this type of work. lemonis: yes, you are. lisa: it's not me. lisa: i don't think i can take the company where it needs to be. i think he can. lemonis: you can. i'm positive. i wouldn't be standing here. i know there's more inside of you, and i'm gonna keep digging because i know what you're capable of. lisa: it takes time. lemonis: it does take time, and that's trust. as we build trust with each other, that will help. lisa: that's hard for me to do. lemonis: i know, but i think you trust me more today than you did when you first met me. lisa: yes, i do. lemonis: and hopefully a month from now, you'll trust me more then than you do now. ♪ i've been un

jamie dimon exclusive, i sit down with the j.p.chairman and ceo for an interview today. we're talking about a broad range of topics including recent market volatility and growth. >.>> stocks are at 16. sometimes there's good reason for that, slower growth is a good reason, people do have concerns about rising rates, they do have concerns about trade. i think trade has caused a lot of volatility. sometimes the adjustment is reasonable. prices are more reasonable. maria: my exclusive interview coming up in moments. it's a second day of trade talks with china. this morning futures are rallying. we're going to see a strong opening this morning, despite the fact we had a re a revenue r the fourth quarter for samsung. the dow industrials up almost 200 points, right here this is the high of the morning, up almost 1% on the dow, 3/4 of a percent on the s&p and the nasdaq up almost 1%. the tone is being set in a positive way after the major indices finished higher for a second straight session yesterday. at the close yesterday, dow industri

we're waiting on jamie dimon who will come up and speak a lot of familiar faces. back to our conversation jo jeff, you live in chicago. you're a midwest guy we go into recession next year >> we don't. i was down in dallas there's cranes everywhere. the economy seems to be strong the one thing we haven't talked about is china was front and center this government shutdown they are just doubling the forecast of that slow down and growth talking about a quarter of a percent becoing whacked off. every add viviser continue to he clients with more and more good problems at the end of the day we talked about this earlier, this is a good situation yes, we'll see a bit of reset. >> take off the rose colored glasses. the reason why the banks traded is up is because fourth quarter wasn't as bad as feared but because guidance going forward the dialogue about going forward was as bad as feared it wasn't just a look in the rear view mirror because they do talk in conference calls they do tell you how they feeling going forward. nobody will come out and criticize trump or the shu

. >> jamie dimon said it best last week. maybe we overshot. maybe we did.ow we'll have to go through a recovery period. right now we're up against the resistance line. that was area of support we broke down. we're back up into that. we'll battle through that. if we get more bad news down the road, we don't go down further that is good place to better to the market in the future. charles: backdrop of ppi number certainly came in worse than people thought. manufacturing data, another manufacturing report sharply lower. are you concerned about the economic backdrop right now? >> i am concerned to the extent if the fed were to continue pulling the neighborhood out of marketplace, not referring to the rate level, referring to the balance sheet, continue going at 50 billion a month all year, which i'm now convinced they're not going to you that would become a economic backdrop. >> they still have to come in. >> 10 to 20 billion a month they were doing for a year and -- >> i agree with that. stretching this out a lot longer than originally intended. >> economic ba

dimon said it could reduce economic growth to zero.t it is he goes, as we head into 2019,w urge government leaders essentially to strike a more collaborative tone just looking at the standoff here, also commented on brexit, saying they still do not believe it will be hard. we have this pending vote today. >> he sounds very presidential remember when we heard chatter about him running for president? >> yes. >> i think why he wants to run for president is he's sick of it when you -- >> by the way you said why he wants to run for president i don't think he wants to run for president. >> why he would like to be president. no one wants to run for president. people want to be president. i think that what he's saying is, listen, this anger, this animosity that causes these shutdowns is no longer just idle david, zero gdp -- >> that would be bad. >> or suboptimal. >> suboptimal. jay powell would be -- you like the suit it is cold outside. >> we got a hell of an array of suits on the desk today. >> sharp. >> infinity count. >> i bought a 180 co

liz: can i just take it to jamie dimon? jamie dimon for president at this point, he said that a functioning government helps business. >> yes. liz: and he very much would like to see this dealt with. he's a master negotiator. >> you mentioned that, his earnings call today. he believes that gdp could be zero. that follows a report i had last friday where i said inside the white house, they're all worried about the impact on gdp. liz: blake just reported remember, a few days ago, it was one tenth of a percent hit every two weeks that the government shutdown goes on. they just more than doubled that. it is going to be .13% every week. >> according to the people i know inside the white house, this is the week that it starts to really show up in output and jobs numbers. we should point out, jamie dimon's reported today, jpmorgan, goldman sachs tomorrow. watch the trading revenues. do they pull something out of their hat to counteract a very bad december for trading? liz: who would be his vice president? we will get that tomorrow

jamie dimon, the j.p.o who has no major hot spots. bay bridge wb 80 is less then 30 min from the maze to sf. san mateo bridge less then 30 min from 880 to 101. golden gat bridge drive time less than 30 min from 37 to the toll plaza. richmond bridge drive less than 20 min from the toll to 101 (james) time to talk winners and losers with our financial expert rob black loser: shutdown could reduce economic growth to zero (if it continues) . . . jamie dimon, the j.p. morgan chase ceo who has been bullish on the u.s. economy, said that the government shutdown could wipe out growth from the world's biggest economy. "someone estimated that if it goes on for the whole quarter, it can reduce growth to zero," dimon told reporters. "we just have to deal with that. it's more of a political issue than anything else." winner: netflix is raising prices and the stock is soaring . . . the rate hikes constitute a jump of between 13 percent and 18 percent. the new prices take effect immediately for new customers. existing su

we spoke to jamie dimon, the ceo ofjp rgan. >> 3.5% global growth. the united states is doing fine. trade mayetresolved. all those things may rsersverse. we're going to have a recession some day, but we don't know when it will be. the financial system is in far better shape in the united states. >> michael dell of dell technologies discussed the importance of artificial intelligence. >> we're in a world where thedi tal transformation, the explosion in data, ai, machine learning, cloud, 5g, all those things are capturing the and nation of customers, they require all kinds of new capabilities to be able to make that happen. we've put ourselves in the potion of combining the world's best capabilities to be able to enaore that 99% of

melissa: meantime, jamie dimon also offering insight on the federal reserve.licy and monetary policy interlinked in completely different way than before. i don't understand fully effect of that. i do think reversing qe in different regulatory environment may have a different effect than we think but on the other hand the fed will not sit there anding north it. melissa: james, that is the unknown. as you unravel, we have no idea what that will mean in this regulatory environment. he went on to say, that he feels like, he is a guy who sells money, he feels like 10-year should be 4%, but i don't know because all the rules have changed. what is your take on that? >> i would say so far, so good in terms of transitioning back to a real economy from the previous era, where it was kind of the federal reserve trying to conjure prosperity by printing lots of money. the federal reserve has never created so much money. and so, it is uncharted territory as we try to go back to normal. the fed's balance sheet shrinks. interest rates have to rise. he is thinking about what i

dimon come the chairman and ceo of j.p. morgan chase, one of the worlds most powerful companies and global financial tovices firms with access $2.5 trillion. jamie is a native of new york city. he graduated summa cum laude or atask and was a bank scholar at harvard business goal his mba.attended he began his career at american express. and later became the president and ceo of travelers. he moved on to help will citigroup where he was named president. and later moved on to become chairman and ceo of bank one. following the merger with j.p. morgan, he became president and chief operating officer of the merged entity. -- j.p.e ceo of jp morgan chase into dozens six and in 2007 added the title of chairman to his official titles. he is the chairman of the business roundtable. he is also on the executive committee of the business council and the partnership for new york city and in addition to the economic club, he is a member of the financial services forum, the financial services roundtable, and the council of foreign relation

and then to ask what is it like to have a shouting match with jamie dimon? didn't write down the page number that you had to say you took your earrings off. >> they are already applauding. because i'm a girl from oakland. >> why were you so adamant? that you cannot call him why were you so adamant about getting him on the phone? . >> shortly after i took office as attorney general with the ending of the investigation they had robe assigning foreclosures so what they have been doing is rubberstamping foreclosure on family homes without doing the due diligence that they really should have bought their home. the country was devastated so you remember they created these mortgage-backed securities this financial statement they were selling mortgages and not doing the due diligence to see if they could really afford the home they were misrepresenting facts making promises not fulfilled. thousands upon thousands of people in our country lost their home i took my team on the road to meet with california families they had seven out of the top ten cities hardest hit b

we will go live to jp morgan's withjamie dimon, and talk the former u.k. and bassett are to the united states -- ambassador to the united states about the brexit drama. but first, with little public sign of any resolution on the shutdown, president trump is ordering thousands of furloughed employees to return without pay. this on top of the thousands already kept on the job as mission-critical. we welcome one of the key people working to resolve the impacts, , agressman john yarmuth democrat from kentucky, he now serves as the chair of the house budgetary committee. thank you for joining us. >> it's good to be with you. david: what about the president ordering these people back to work? is that lawful? >> it lawful to order them back to work, the question is whether or not they will be paid. if they are paid, i suspect there is some money sitting around these various agencies that has not been expended from prior appropriations. but there is a lot that says you can expend -- cannot expend money unless congress approves it and we have not approved any of th

maria: exclusive interview with jamie dimon this morning.morning stronger nonetheless ahead of second day of u.s.-china trade talks, take a look at market, up 152 points in dow jones industrial average, two-thirds of 1%, s&p up two-thirds of a percent, 16 points and nasdaq with 42 point move higher by 32 right now. major indices finished higher for second session in a row yesterday, also buying coming in in europe this morning take a look at numbers, european indices are also reacting, we have markets higher across the board with the ftse up 1 almost, cac quarante up better than 1% and dax index in germany 65 points two-thirds of 1% higher, mixed performance in asia. take a look at asian indices. carlos goshn is speaking out, former nissan chairman has appeared in japanese courtroom yesterday, what he said to the court and the world, coming up this morning. plus president trump will address the country tonight as government shutdown enters days

wants to be yesterday we spoke with jamie dimon ceo of j.p.know that they are telling african countries other countries across the world we will develop your telecom infrastructure all so they can tap into and spy so there are big issues with china, that probably i mean can you address everything as well as doing a deal just on trade or is the president focused just on getting trade numbers changed to get u.s. in a better position what about the intellectual property theft what about the spying? how do you change that culture. >> the intellectual property theft top of mind something partly of these conversations something the president brought up a number of times, both in the public sector as well as in private meetings that he had with president xi these are all things that will be part of the conversation and again we are hopeful that we can make a good deal with china we will see what happens from here. maria: so quick sarah deputy attorney general rod rosenstein announcing he is expected to departure department of justice agency officials

morgan moring chairman ceo jamie dimon catch us tomorrow morning 6 eastern as jamie dimon talks abouting, here is what the president just wrote few minutes ago he says, the fake news media in our country is the real opposition party truly the enemy of the people, we must bring honesty back to journalism and reporting. the president just tweeted that out a few minutes ago. top story this half an hour markets in focus, futures are mixed this morning, as the u.s. and fortune head into new trade talks, today, about kicking off a new trade talk conference, the markets opening after major rally on friday with december jobs' report surging past expectations, and federal reserve chairman jay powell saying the fed this is no, no hurry to raise interest rates joining me alliance chief economic advisers mohamed el-erian good to see you thanks for joining us. >> thank you, maria thank you. >> first a word on global slowdown, that we are talk at aing about so much mohamed, i want your thoughts on the pivot the federal reserve has taken first on global economy we saw apple sending shock wavers cutt

jamie dimon delivers again.call that it's more of a political issue anything.an than if the shutdown is prolonged enough, it could reduce growth to zero. the fallout is being felt across all agencies. owns and operates ethanol plants in the midwest. also with this is sarah hunt from alpine woods. for your outlook, where is the risk? >> there are two critical things happening right now with the shutdown for us. can we get the chinese negotiations done? can we get the 15, a blend of ethanol rulemaking by summer driving season. we needed it last year. we still needed this year. the president said he is committed to getting it done. the epa said they have enough to get it done by summer driving season. the shutdown could delay that. is there is no one to file paperwork? todd: it's a big process. any people there to do it. there is no one there to do it. hopefully, they got a lot done before the shutdown. if it gets along much longer, it will be hard for the summer. david: you said there is a set process. today, came

jamie dimon spoke with francine lacqua in march about banking consolidation and competition. >> my viewthere is always competition. whenever you take a deep breath and say it is easy, it is not. banks tend to recover. if you look at the european banking system, for their benefit, they need to be allowed to merge and expand in the european banking system. if they don't, it is a huge disadvantage for them for the next 50 years. i would be worried about trying to create that. >> if the banks due march, do you think there'll be a contender for you? deutsche bank is a tough competitor. of globalms investing, they need to get big or merge. we also have to compete with chinese banks. >> what role will they play in the u.s.? can they play a role in the u.s. in the future? >> 30 years ago, they were in one country. now they are in 70. their government likes them, and they have a natural home market, which is a huge advantage. they are already on the playing field. a small trading house. they are ambitious. they should be. so help me god. >> just weeks after speaking with jamie dimon, francine la

and so she came in and said jamie dimon is on the phone and i said okay.laughter] >> in dealing with these banks, there was so much going on but you come back to what i know broadly about your book, mother wisdom, you write dealing with the foreclosure rate crisis. i know about your mother, she would've told me to it hold path to conviction. to listen to my gut. tough decisions are tough precisely because the outcome isn't clear. but your gut will tell you if you're on the right track. you will know what decision to make. when i listen to my gut these days, it takes on a whole different meaning. >> your twisting the interview. >> because last time i heard this someone said i'm doing deals and i'm not being accommodated by the fed, they are making a mistake because i have a gut in my gut tells me more sometimes than anybody else's brain can tell me. [laughter] >> president trump november 27, 2018. what is the difference between your gut. [laughter] and his gut. [applause] [cheering] >> i would say that the fact that he is a gut. i think there is a thing abo

. >>> we have breaking news on jamie dimon. what is happening?yes, indeed so a statement from the jpmorgan chairman and ceo jamie dimon about income tax levels and context here this comes in part in response to some presidential candidates and another politicians outlining they feel the income tax and capital gains tax on the wealthy should be going up so it's in part of response so that, but also of the fact that jim dimon has been a supporter of the cut here's what he has to say about income tax level he says quote, i believe individuals earning the most can afford to pay more i have no problem paying higher taxes to address some fundamental challenges and equities in our society. however, we need to ensure our tax dollars are going where they can be most effective like expanding the earned income tax credit and other programs that support the people in communities who really need it i've argue also argued for fair taxes in the u.s. so america will be the best place to invest and create jobs. that statement from jamie dimon on income tax levels

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dimon said this was because they were growing, taking share, and overall credit royalty was pristinedressed shadow banks and leverage loans >> a lot of those folks are quite bright, kind of know what they're doing. someone is going to get hurt there. the issue there in the next recession isn't what the loss, remember, most major banks don't fund a lot of that leverage lending book is a much smaller book capital liquidity is higher. it is nothing like '07. >> wells fargo in fact had better than expected loan loss provisions and improving costs which led to eps beat. loan growth bounced back, growth in general remained lackluster shares lower when tim sloan, the ceo, said the asset cap would remain in place all of 2019. >> we're in complete agreement with the fed about what needs to be done. we're in the midst of implementing that. we're making progress, it is just happening slower than we had originally anticipated we'll get there. >> jpmorgan started the day as laggard of the two it is now down a percent wells fargo down 2.5%. guys >> thank you >>> when we return, microsoft announcin

. >> jamie dimon is the chair and ceo of j.p. morgan chase. last week, he talked about the government shutdown, brexit, and trade policy. an hour.ust over special pleasure for me to welcome our guest speaker today, who's probably one of the most important figures in the world of banking and financial markets, and also a club member. s as the chairman and ceo j.p. morgan chase, jamie diamond one of the most powerful companies of global financial services firm with access of two.$5 trillion. as a native of new york city, he graduated summa cum laude from tufts and was a scholar at harvard business school where he attended to get his mba. he began his career at american express and later became president and ceo of travelers. he moved on to help build citigroup where he was named president to become chairman and ceo of banc one. ceo of banc one. . . . . in addition to the economic club, he is a member of the financial services form, the financial services roundtable, and the council on foreign relations. through j.p. morgan chase and his own priv

>> speaking of the big banks, jp morgan chief jamie dimon spoke today in new york.ns about short termism. listen. >> too much focus in the short term i look at -- do you know what's important to me? market share number of clients, products and services, new branches, not nim and whether expenses were higher or lower that quarter. we can't forecast trading any more than anyone else in this room can. >> the point on this, i have to say, we hear this from him every three months what he's doing is saying -- the question was you missed on fixed income trading but he said yeah, analysts estimates are what we're concerned about in the long term we often criticize him for that. during that earnings call we saw jm morgan stock turned around because people took from that, okay, there's been misses on the top line if it is only one quarter, one month, december, then that's encouraging. >> it is encouraging i think he's articulating the way he looks at the business, his role and what he can control. >> right. >> so, yeah, it's kind of an easy thing to say. he also has the advan

government agency or jamie dimon, maybe he invest in start-ups, track record will say that jamie dimonvest better -- >> you have to be kidding, james, i never heard anything so ridiculous in my life. >> i think the shutdown raises questions about whether the federal bureaucracy is currently overstaffed as you think about spending. it took a long time for most people to notice impact and basically when we workers started throwing themselves at tsa gates. dagen: air traffic controllers that caused problems over the weekend. i want to point that out, it's appalling to make people work and not pay them, i'm sorry. maria: let's get to 2020 line-up because howard schultz and other wealthy business guys, starbucks ceo howard schultz on fox news telling dana perino that president trump should not be taking credit for the american economy. >> i think the deduction and corporate tax rate of 21% was wrong and e e -- e e es 5 million young people in america, most black and latino are not in school or not in work, one out of six americans -- and i do not give him credit that in 2 years stock market

i'm just wondering, why would jamie dimon ever want that job? he has a billion dollars.eadaches. for howard schultz, does he care enough about america? is that what it's about at this point? >> well, let's see. i like howard schultz but as a democrat, i would be incredibly disappointed if he decided to run as an independent. so that's one. i want to just make -- david: he is a life-long democrat. >> he is a life-long democrat. no different than i did not want mayor bloomberg to run as an independent. >> you think he'll run? he said seriously thinking about it. >> i think he has some senior people like steve schmidt and bill burton around him. it's clear he wants to run. i think the big question everyone is asking is the guy that called him an a-hole, did he buy the book yesterday? as a capitalist, schultz probably says you know what, i just made 25 bucks off the guy. david: he just wrote a piece in "usa today" and he makes a salient point, particularly now, where we are in this political system. he says 66% of likely voters say neither party is really representing my nee

you like -- jamie dimon was on mornings with mariah.s this man that will lead the company up to the stars? >> i absolutely do. everybody can talk about falling rates we've seen over the last few weeks. that they will hurt the banks. excedeingly high volatility we've had over last six months. trading revenues, that banks like jp are actually going to sew show in the first quarter here. [closing bell rings] i think that farce outweighs anything the. liz: we have tried talks. melissa: we're off session highs. we had been up more than 33 points earlier in the stay. i'm melissa francis. connell: i'm connell mcshane. welcome to after the bell

that is jamie dimon saying we could have zero growth in the first quarter.magine anybody in d.c. wants that. >> i don't think anybody in washington, d.c. or the middle america wants that either. this hurts everyone, not only just people in the beltway. i think we have to understand that president trump actually anticipated some of this and probably tried to reduce some of the negative impact by hiring -- bringing back 46,000 workers for the irs to handle tax returns, especially approaching the january 31st deadline for employers and business owners to get their w2s and 1099s to employees and other tax documents like that. but with the tax cut and jobs act, that at least reduces some of the burden that's going to be on a lot of americans and -- but this has been part of his campaign, getting the wall built has been the centerpiece for his 2016 presidential campaign. if he caves on that then he risks losing 2020 because it fractures the base. cheryl: the democrats know this. that's why jamie dimon said it's a political issue. it's also an economic issue. tens

jamie dimon.was interesting could you expound on that? if the government shutdown continues, we actually could bring on a -- more than just a slowdown we could bring on zero, perhaps? >> first of all, welcome happy to be here i was repeating someone else if it lasts the whole quarter, it may grow zero i don't know we all think it's kind of a hockey stick that exponentially gets worse as people stop spending money we just don't know we tried to figure it out. but it's not a plus out there. >> the recent developments, and i don't know -- we're right in the middle of it now i just wonder if you think the more we hear about coast guard, not putting people on the table, it's incumbent for someone to move off the dime. >> i heard david ruben steen on your show say -- and he had probably spoke to somebody who knows. the democrats and republicans should sit down and finish this issue immediately and compromise to do it >> the idea they've let this go on for 33 days >> i don't know. i thought the president

we know that net interest margins or something jamie dimon just is not care about.g to you. a gloomy start. the weather has turned the gloomy here in westminster as well. how much comfort to you take from what we have heard so far on earnings, if any. or is it too early to say us market will kind of reflections >> theu made so far? optimistic case was that the expectations have normalized enough already. analysts have downgraded earnings quite significantly in the last quarter or so. what the earnings results are telling us is that that was probably the right move and that there may be some normalization to come. i think that so far, it has been a little bit mixed. that it is going to be much more selective. i don't think that there is necessarily a lot of news. matt: which stopped with the former fed president and he was saying that the fed does not want to be the handmaiden of markets, clearly. questioncan go to your , s&p 500 level put fed hikes back on the table. >> clearly, if financial markets are very volatile, there will be news driving that. markets don't c

. >> we all know who you're not lukewarm on, jamie dimon. >> i love jamie dimon. >> kind of rhetorical. i was listening to what he said about their quarter. their loss provisions did go up. he said their moloan book is gog up but expenses are going down amex said their expenses went up >> i still love jamie dimon. >> it's not about that love affair my point is they're having the loss provisions go up and expenses go up and the stock is being punished we're talking about precise, technical levels look where the stock got rejected at, $100. that was a huge support level last year. >> amex is increasing their loan growth, so loans outstanding were up 13% year on year so the question is do you want that exposure in your portfolio or do you want exposure with mastercard or visa. >> which i have. mastercard is like a 30 multiple, right? it's a totally different -- this is a 12, 13. >> but is your question asking would you want to be concerned if credit is turning. >> yes. >> this is a company to be more aggressive and this is where many have failed before them so whether they will or not. th

listen to jamie dimon.propulsion is allowed, if we get jet propulsion and not jay powell, david, we will see new highs i said it. the fed is great i love the fed everything he says is good i'm just -- i love, love, love >> we'll see you opening bell coming up next. ♪ you should be mad they gave this guy a promotion. you should be mad at forced camaraderie. and you should be mad at tech that makes things worse. but you're not mad, because you have e*trade, who's tech makes life easier by automatically adding technical patterns on charts and helping you understand what they mean. don't get mad. get e*trade's simplified technical analysis. ♪ ♪ our new, hot, fresh breakfast will get you the readiest. (buzzer sound) holiday inn express. be the readiest. ♪ acan echo throughout ane entire community.nge that's why we proudly support, invest and volunteer in communities like yours. because the changes we make today... can you hear me? ...shape the possibilities of tomorrow. u.s. bank the power of possible. >>> you'r

the other pressure was increased loan loss provisions but dimon said this was because they were growing and taking market share and credit quality was pristine. he did address an area of concern, shadow banks and leverage loans. >> a lot of those folks are quite bright, they kind of know what they're doing someone is going to get hurt there. the issue there isn't going to be what the loss -- and most of the major banks don't fund a lot of that. i wouldn't put it in the systemic category. the average lending book is a much smaller book. capital liquidity is much higher so it is nothing like '07. >> shares, as i said, recovered significantly intraday and are close to 1% higher at the moment >> question, i mean we talked a little bit about this earlier, but just on the future because i think there were some worries that potentially these banks while not saying it or preparing for a turn in the credit cycle and dimon talking about some of the uncertainties that lie out there. how would you assess it? >> i'd say that the sentiment was pretty relaxed when he was talking about domestic economy

while jamie dimon, ceo of america's largest bank, cites one estimate that sees u.s. growth reduced to zero if the shutdown goes on for the entire quarter. so could a real economic slowdown become a reality if this drags on for another month or so? what do you think, gang? >> yes, i think it can, david, unfortunately so. look we're losing about .13% of gdp per week that the government is shut down. this is self-sabotage. this same administration that gave us this tax cut and cut in regulation that boosts the economy now is the same administration that we had to bail out our farmers because trump starts a trade war. now we're bailing out our farmers and we can't get those farmers federal aid because trump has started a government shutdown. he's supposed to be this great negotiator. now presides over the longest shutdown in american history. i know he's half to blame. the democrats are just children just as well. they voted for a wall, for funding and now they are not willing to negotiate because president trump is for it. it is children in d.c. right now. and the count

risks,looking at the jamie dimon a lot to say with a lot of the stories.rade war, the possible shutdown. how this is playing into the economy and their profits. ramy: basically connecting all of the dots. i will show you how jpmorgan actually ended the day, despite all the negativity from those numbers. it turned out that the share price started in the red and ended in the green, but this was on just general optimism. more to your point on the fears -- the u.s.-china trade war was central in his remarks on that earnings call. he said that he is pretty optimistic. take a listen. along to this march 1 end line date that enough would be done to get an extension and hopefully complete the deal. ramy: also, one of the things the u.s. government shutdown. he is saying it is more of a political issue, but says if it is prolonged enough, he might see the u.s. economic growth could go down to zero which would be very disheartening for everyone here. the cfo marianne lake said the more prolonged it is, the more its customers are being impacted. let's pull this out f

jpmorgan boss jamie dimon says a hard brexit is unlikely, but would be disastrous for the u.k.. the bank has spent hundreds of millions of dollars in preparation for britain crashing out of that you -- crashing out of the e.u. dimon says he understands the desire to leave the e.u., but voters are only now realizing how messy it would be. >> a hard brexit would be a disaster for great britain. we do not think it will happen because it is bad for europe, too. brexit.repared for hard goldman sachs has apologized to malaysia for the role of senior banker played in the 1mdb scandal. they said malaysia was defrauded by many people while the bank conducted due diligence. one lied to all sides. guilty to laundering money. >> for his role in that fraud we apologize to the malaysian people. as you would expect, we look back and continue to look back, to see if there is anything we as a group could have done better. at the same time, i want to to know before each transaction, considerable due diligence was conducted. the french finance minister is calling for the dismissal of carlos ghosn

that's exactly what jamie dimon said last week.n 6%. which at thi6% treasuryservicesd security services revenue up 1%. we talked about the market volatility last year in the fourth quarter in that interview with jamie dimon. he said throughout the interview that the markets were over-reacting. watch this. >> you don't think markets are indicating a recession is on the horizon over the near term? >> no, i think markets are over-reacting to short-term sentiment over complex issues. maria: what about the shrink yaage inmoney supply. >> some of it is a rational response. you think there would be slower growth, higher chance of recession, higher chance of a trade war, that is a rational adjustment. you and i would say that's pretty rational. you pay less under that environment because you would think the future is going to be very different than you thought it was before. maria: you know better than i do, when i think about things the federal reserve makes a pivot, they say they're in know rush. earnings have been pretty strong. we had

we'll have to listen to jamie diamond on that point on the call on the point of jamie dimon, we alwaysuches on the world of politics and he did say this, he said as we head into 2019, we urge our country's leaders to strike a collaborative constructive tone which would reinforce a strong consumer and business sentiment. so that ind coo kind of balancet could be better if the politics is more constructive >> if the stock was almost 120 and the recent is down at 100, so it's got some stuff in there, i guess. worries about whatever yield curve, financials and all that and then on a normal day, i think if j.p. morgan missed the bottom line by 10% they might be happy with a 1.75% -- so who knows where it ends today. that's no the that horrific. whether it is because of it's already down from 120 or because, you know, trading, that's not core. >> to his point, i think they got killed in the fourth quarter. >> that's right, joe and you're also right to point out that, you know, last year it already pulled back a lot. but it outperformed everyone out. it was down 8% last year >> we want to get

>> well, i think it's going to be big, partly because what have jamie dimon just said.st about the billion dollars a week or so that it's costing, far more than this fence or security fence. it's about consumer confidence it's boston people like me believing that we'll be able to get our act together on policy all the way down the line whether it's trade or immigration. this is not that difficult of a problem to solve, the issue of border security. we're talking about, you know, one side that was close to 2 billion and another side wants 5 billion, you can figure out, well, let's just have some fence and border security and appoint some blue ribbon panel led by michael chertoff and three generals from the corps of engineers, figure out what's the best way to do things and move on the real problem is we have a government and especially i think the president is pushing this in a way that we can't just move on, and it's going to hurt the economy in a direct way and certainly in an indirect way in terms of world confidence in our ability to do even the most simple things. >

in addition to the million - dollar donation, dimon said, the company will match employee donations. our coverage of the record long shutdown continues at kron-4 dot com. we look at how we got here.. what happens next with border security and congress. and the possibility the president will declare a national emergency for border wall funding. that's all at kron- 4 dot com (ken) earlier this afternoon... a charter bus carrying members of the stanford track and field team caught fire on northbound interstate 5 in seattle. everyone on board, including head coach chris miltenberg and 30 student athletes were evacuated safely. most personal belongings and equipment were also recovered. after recovered. after waiting for about two hours... the team was taken to the university of washington campus on a city bus. seattle news reports said lane closures from the bus fire had a ripple effect on traffic around puget sound.... which led to a 4-mile backup on northbound i-5 headed into seattle. the team announced on twitter that it would compete as scheduled at a track event at the university of