i want to read you what jamie dimon said. he said i strongly disagree with president trump's reaction to the events that took place in charlottesville. racism, intolerance and violence are always wrong. that last line is exactly what donald trump said. >> god bless you and god bless erika first. that is exactly what the president said. he condemned hate and bigotry on any way, shape or form period. that's what he condemned. a lot of these businesses are being pressured to speak out against the president by people who are hateful of the president. and i think that what they need to do is just understand that our president has a desire to see the entire nation wealthy and prosperous, and there are going to be ups and downs and storms and situations that will come. we have to stands behind our president. i'm hoping those leaders, even though this company did leave the table. i'm hoping the companies will engage with the president again to think about the nation as a whole and not themselves personally. david: the narrative is st

jamie dimon particularly would not hate obama.iz: they like president trump for that. >> they joined these various councils which don't have a popular policymaking role but they do advise the president they'll want to be there. they embraced him and they sat through a lot of crazy town even before this latest go-round with the charlottesville speech. donald trump wasn't exactly playing the straight and narrow after six months in office so they sat through that. they didn't care that this crossed the line today. so why did this cross align? most people, it played to a french were donald trump said about this missing direct culpability of the neo-nazis and the far right fringe. it suggested he was playing footsie with this very toxic part of our culture. he was saying that he was trying to say that the far rep started it and there was equal blame throughout. most people looked at those tapes and it showed a violent rally by the far right extremist in which a woman died, which there was a fight with far right agitators. let's be clea

. >> jamie dimon >> am i too early in that promote? yes, you are >> permeant yesterday, you got me all confused. >> i'm all over it >> they're producing a lot, but they're not -- >> but they don't have the pipelines. let's get to the road map this morning. we'll get to oil but for now, we're going to talk markets. the dow's win streak is at 10. you saw their futures are looking, at least for a lower open plus, michael koors and ralph lauren delivering some upbeat news you got that right, upbeat for the retail sector. both of those companies beat the estimates of the analysts. follow them. koors up a lot cbs coming in better than expected >> but they lowered guidance, so the stock is down. >> basketball, ad sales. >> oh, i thought you meant cvs >> no. >> oh, you have to say channel 2. all the time on the trading desk, you never use the term "cbs." you say i've got 50,000 channel 2 to buy too many people bought cvs and that stock is down never use cbs for cbv. >> okay. >> and charlie victor was not. >> it was down >> it not only posted a

plus, a cnbc exclusive coming your way with jp morgan chase ceo jamie dimon. busy hour with s&p 500 back at record hhsn quk leig o"sawaly. for years, centurylink has been promising fast internet to small businesses. but for many businesses, it's out of reach. why promise something you can't deliver? comcast business is different. ♪ ♪ we deliver super-fast internet with speeds of 250 megabits per second across our entire network, to more companies, in more locations, than centurylink. we do business where you do business. ♪ ♪ >>> what did you find? >> oh, i think the answer is now not so much as it happens. before, yes. now first of all, he is 100% right. you'll get the credit on the upside and the down side and we'll all measure and judge this in four years or eight years from now so as to where we are today, i would contend given the fact there has been next to no legislation of any sort,it's very hard to look at where we are today and say that what's -- what trump has done has somehow changed the market forces. it did early on. but it's the earnings now. you

. >>> and our own wilfred frost sitting down exclusively with jamie dimon.e sure to catch that today at 11:30 a.m. eastern you're watching cnbc so why wouldn't you take something for the most important part of you... your brain. with an ingredient originally found in jellyfish, prevagen is now the number one selling brain health supplement in drug stores nationwide. prevagen. the name to remember. you're in the match app. now tap on the new missed connections feature. it says i've crossed paths with kate six times this week. that is a lot of times. she's cute too! yea! how did i miss her? you didn't. match picked it up for you. check out new missed connections on match. start for free today! hey you've gotta see this. cno.n. alright, see you down there. mmm, fine. okay, what do we got? okay, watch this. do the thing we talked about. what do we say? it's going to be great. watch. remember what we were just saying? go irish! see that? yes! i'm gonna just go back to doing what i was doing. find your awesome with the xfinity x1 voice remote. >>> welcome back to

lauren: jamie dimon was a member of one of these groups.breaking them up and said there's no room for equivocation. do he should be condemned and has no place in a country that draws strength from our diversity and humanity. but the leader's role in business or government to bring people together, not to tear them apart. lea: minority leader mitch mcconnell pushing back on the comments in charlottesville saying we could have the ideology of racial hatred. there are no good neo-nazi and those who espouse their views are not supporters of american ideals and freedom. house minority leader nancy pelosi calling trump's comments very sad for our country. >> he does not know right from wrong, true from false, american patriotism from white nationalism. the president has jammed up. they are talking about all over the country. lauren: many questions about steve bannon white house chief of staff. he spoke with a left-leaning magazine recalled the far right elements of the republican party a collection of clowns. and then the mayor phoenix, arizona s

normally a big fan of jamie dimon. he saying he disagrees with the president saying that racism is wrong. did the president say racism is right? >> no he didn't, a shame to see a lot of identity politics going into corporate america right now and everything is becoming heavily politicized because we need the business leaders of this country to coalesce to push ahead of the president's agenda. if you look at jamie dimon he is pushing tax reform as head of the business roundtable that will benefit medium to small business. we need that. the tax code is convoluted and complex with over 75,000 pages and s&p 500 names don't have detriment. their net effective tax rate is 25%. they have overseas profits. so the problem is is that small business owners as well as consumers need relief and we need the business leaders there to help push this president's agenda through. melissa: dan, he said violence is always wrong, jamie dimon said that. i don't remember saying that the president was saying violence is right? >> trump probabl

so loud strong message there from jamie dimon. from a business point of view, there was the argument that if you're on the president's council, you have a seat at the table. the potential to influence policy. walking away you could argue is bad for the shareholders of your company. however, in this environment, maybe not so. let's be honest, social media play as huge role. not only for the tweeting from the president but those that attack the president's policies and actions. it is clear that if the councils had not been disbanded, those remaining ceos were going to be under a lot of pressure from social media, even talk of boycotts of those companies, those ceos represented. in the end, all much ado about nothing. it happened quickly indeed. back to you. >> they're under pressure from social media and from their customers, shareholders and perhaps as well as they should be from their own moral compass. we're getting reaction to all of it from charlie gasparino and donald jay. during yesterday's show, i'm mistakingly said walmart'

julie: we have more comments from jp morgan's jamie dimon. apparently he put out a memo to bank staff in which he said i strongly disagree with trump on charlottesville. he is said to have expressed an opinion on his call with steve schwarzman earlier today. how does this position corporate america when it comes to lobbying for tax reform for example? thatthis not cost them much because they will be dealing more with congress on this issue and they can sacrifice their relationship with the president to some degree? good point.es a it's not like these corporate ceos will never talk to the white house again. be mostly onll capitol hill. the white house put out some broad principles. we expect to hear more next month from them. that is quickly going to shift to the house and senate where all of these companies have very well-paid lobbyists all over washington that will help them try to get their way in those tax reform hearings and meetings. i think the biggest damage to donald trump would be under the category of credibility. he has set up coun

not putting jpmorgan down at all. >> why put it down, it's up 10% year-to-date >> with what jamie dimon was saying, i think he makes a very important point that extends far beyond the financials if loan growth returns, you'll get a broad-based recovery in the economy. i think you'll get that because the absence of new regulations is having people within banks shift from figuring out what is washington, d.c. want them to do to stopping worrying about that and actually focusing on growing their loan book. that's going to be very positive for this economy i think you make a really good point. not at jpmorgan. i talked to somebody who was a recruiter for the large banks and he said, it's such a relief to not be spending 90% of my day looking for compliance people. this is like the first time in a long time that i'm looking for something other than compliance people to fill roles at big banks. >> do you know how many people jpmorgan has in their compliance department 23,000 people. so talk about deregulation -- >> got to stop those whales. >> -- that in itself is a nice tail wind. >> but i'm

here's some of the snippets aetna's ceo said i'm ashamed of our president's behavior and comments jamie dimonaying i strongly disagree with president trump's reaction johnson & johnson ceo, the president's most recent statements are unacceptable. small business council president, president trump must recognize the broad criticism he is receiving we'll wait and see when the president wakes up here whether he does recognize that broad treatment. we'll have to keep an qui eye os twitter feed, that's often where he expresses displeasure but this is a stinging rebuke for a president who prided himself as a ceo president, would bring more open lines of communication between the businesses and the white house and enjoyed surrounding himself with all those executives at the white house. >> don't you think it's more than that in they have a group of advisers, they have not filled all their staff the assumption on wall street and for those that saw the ceos beyond just the photo op is that they would help get some of these policies done and put into place and put into action. the fact they would have a

our own wilfred frost speaking with jpmorgan chase ceo jamie dimon. dimon said he'd rather spend more time just growing the company. >> our preference is always to grow the company organically, so if you asked me i'd rather use that to buy back stock or grow the company, i'd rather grow the company, and some people think banks are buying back stock and not for making loops loans are constrained by other things, not right now by capital so if i had a choice and if things had been different five years ago a lot of capital would have been used to make loans to fund american society and we'll go back to that and the goal is not to go to a bigger payout like to go to a lesser payout and spend more time to grow our economy. it would be $1 trillion more of mortgage loans and a portion of that would have been our bank and that would have fueled american growth. that's what we should be focusing on. not the payout. >> are you concerned about the level of bond markets? is there a bubble there, and when the fed does start to normalize its balance sheet, will tha

we've heard jamie dimon's comments in terms of tax reforms. so i think from a company's perspective, what they want to see is qulariclarity from the tp institution. certainly the u.s. is sitting on some cash, looking to invest it. and i reference the pfizer ceo, almost saying we could do m&a but we're delaying it until we have a bit more clarity on tax and health care. and i think that makes sense >> and who could blame him obviously. and finally, i want to talk to you about valuations because we see the dow going from record high to record high, s&p also this week hitting another record high valuations are quite elevated. we've heard that throughout the last couple months yet we still see the markets going higher what is interesting though and you point this out in notes is that earnings beats have not been rewarded to the same extent that they have been in the past. and we see that earnings misses are being punished quite severely is this another sign of people getting a bit fatigued with valuations >> yeah, i think the valuation fatigue is

well-put by the ceo of jamie dimon there to his employees.was on one of the president's business councils. he made the point they agreed to disband. this was his reasoning, to employees about what had happened. look, we've been talking about it throughout the hour. and it is at times like charlottesville that you need your leader to stand up and really help show the direction for the country. and that was a missed opportunity yesterday. and more than that, it really took us down a path that we don't need to be going on right now. meanwhile president trump vowing on the campaign trail to remany have the trade deal to benefit american workers and today negotiations fin to do just that. jeff flock at a farm in bartlett, illinois, with details. hey, jeff. reporter: hey, trish, as you've been so articulating pointing out all hour the president's actions yesterday really didn't do him any help out here either. revamping nafta will be a heavy lift, particularly the folks surrounding me out here in farm country. agriculture has been a major beneficia

jamie dimon loves dropping dodd/frank. they want tax cuts. they're starting to believe it ain't happening. >> them looeaving this council, choosing to disband, and the fake news is talking about his unfairly criticizing his comments because you're hearing from a lot of these business leaders. they're condemning the way he handled this fallout from charlottesville, jamie dimon saying business leaders are supposed to bring people together not tear them apart. these are his closest allies shall the business community. they are out, making no bones about it. >> do you know who is not upset with the president? republicans. more republicans feel that donald trump is assigning blame accurately when it comes to charlottesville. >> which means this is more difficult for lawmakers. but for businessmen, steve schwartzman raised $40 billion, billion with a b, from the saudi royal family for infrastructure bill. he got this clearly being tied to the trump family, being tied to this administration. and it is simply too expensive for companies. >> stephanie

we can put it out there that jamie dimon is terrific. >> we're going opposite directions on that one i start there. that's write start >> i'll tell you why these are companies that each have 100,000 if not more than 100,000 employees. that doesn't come down to one person that comes down to dozens o of people >> but that one person is in charge of those dozens peopleo they're outside of that and their job is on the line and they have to place the right people at the right -- >> so it's sort of a monolithic trade to you >> it is that's a good word for it. >> but that's not what we're seeing -- >> well, with you know, actually, in some ways, you're right, and in some ways, you're not. let me point out two distinct examples we're all going to say that jpmorgan, jamie dimon, the creme de la creme, we're not going to argue about that but if you look at the year-to-date returns of jpmorgan versus citigroup, citigroup has had a slightly better return no one's saying citigroup's management is the creme de la creme, this is a valuation call. the management is deserved >> i want to quickly go t

we have a statement from jamie dimon as well, saying in a statement to his employ crease, the equality treatment to all people is -- there's no room for equivocation, the evil on display should be condemned and has no place jamey dimon also going on to say, i strongly disagree with president trump's reaction to the events that took place in shaltsville, racism is wrong and always wrong, jamie dimon says there. so as we continue to get these statements rolling in, who are members of these various policy forums, this is going to be seen politically as a vote of no confidence by america's business community in president trump wait and see further reaction from the president himself i talked to a white house official as all this was breaking, which simply referred my to the president's tweets they have no other comment here from the white house staff other that that what the president has said so far. back to you. thank you very much, eamon let's bring in austan goolsbee what might this mean for getting things done. a lot of hope was around this president. some of that seems to be fading,

. >>> "power lunch" anyonbegins nw >>> jpmorgan's ceo, jamie dimon, pounding the table, america needs to fix its broken tax system, its broken roads and the broken process in washington we'll break down his ex clue interview. >>> google fires the engineer that penned that diversity memo. should they have canned him? is there freedom of speech when you work for a big company not. we'll debate the profits go to pot quite literally. cnbc's marcus limonus goes inside california's market he is going to give us a sneak peek power lunch starts right now >>> welcome, everybody, to "power lunch." i'm tyler mathisen i am never disappointed when jeff done lunlop is on ""fasfas" one more time, the dow is at record, 22,135 on the verge of an 11-day win streak and potentially its tenth straight record close. the s&p 500 joining the party. record interday high there up three points or .14% check out some movers. fibrogen, up 50% and on pace for its best daily performance ever, overwhelmingly positive clinical data on its lung fibrosis drug flip side, dean20% meanwhile, chipotle, lowest level in four

jamie dimon sent out a statement. he said it's a leader's role in baines government to bring people together, not tear them apart. today the members of the president's strategic and policy forum agreed to disband. earlier today here was mike pence speaking from chile. >> what happened in charlottesville was a tragedy. and the president has been clear on this tragedy and so have i. i spoke at length about this heartbreaking situation sunday night. in colombia. and i stands with the president and i stand by those words. reporter: the dnc took a victory lap with this one saying in part, these councils disbanded because of trump's failure to lead and association with trump has become toxic for many reasons. gerri: charlie, it's great to have you here. this is a big list of ceos, all of these people taking a hike. what is the calculation they are making? charlie: there were a few people that dropped off with some of the other issues. he on muks left earlier in the year on the paris he cord. one guy dropped out there, but t

jamie dimon wants to run his company, not get calls every day of what hi thinks about the kkk. you saw when guys came to the white house and president trump would say tell them the story of when i got a hole in one. he loves those meetings. he loves saying i'm an investor with you. >> he loves being in their company because it elevates themselves. >> he was never as high as them. now he has the keys to the castle. >> he sold himself as a person that could hire the best people. make sure the country was running smoothly because he had the right friends. is this sort of thing, the ceos leaving him behind, going to hurt his reputation? >> it may animate some of his base. they think she anticorporate, what i'm really paying attention to is is this a break beyond the picks of the white nationalism. when it comes to tax reform, infrastructure, will they truly be weary, or just walking in from the prelim pressure. >> kelly, how is the white house feeling right now? >> reporter: today, katie, there has within so little communication. we have seen the president has taken that move to di

jamie dimon's comments will be interesting as well. biggest bank, a moderate, always has been. he's been critical of the president, positive about the president in tax policy. here's the thing why this is important. not like these are politicians, not like they can swing voters with a snap of the fingers. a time when corporate america embraced donald trump because they liked his tax policy. the fact they would do a 180 on him now worried about charlottesville is worried about the infection, what was said, his tone on the customers and business, and run big businesses that deal with the public. jamie dimon runs the biggest bank in the country, one of the biggest in the world, i believe. i don't know how many depositors but i bet you there are millions. steve schwartzman runs a private equity firm, larry fink runs asset management firm. they manage money for pension funds. manage money for average people as well. these are consumer-oriented businesses and running away from donald trump right now. that is not a good sign for this presiden

. >>> jamie dimon talking everything from regulation to taxes to president trump during an interviewwilfred frost yesterday, but it's interesting what he said about the bond market that caught our attention. listen >> i do think that bond prices, spreads, bond prices high, spreads are low, i'm not going to call it a bubble, but i wouldn't personally buy in the ten year sovereign debt anywhere around the world because we went to qe one, two and three and now reversing it and there is a chance this will not go well. but they will figure it out. the fed will respond appropriately. >> and gist showing you what is happening with the ten year treasury note yield today, that safe haven bid that spread across assets and around the world off the north korea headlines is giving treasuries is boost which means yields go even lower 2 at the present ti 2.24 let's bring in managing director and global take strategic adviser at pimco more and more warnings, rich, about the bond market. the lower the yields go and the longer they stay stuck at these levels, people worry is it a bubble, will it snap

release it, he puts out his tweet. >> i'm going to jump in and add more color as well in terms of jamie dimontatement as early as monday but didn't re-sign at that point and i spoke to a source close to jamie half an hour ago he always felt a moral responsibility to help leaders on all sides of the political bargain and that he had already pub hickly disagreed with president trump on various issues whether that was immigrations or transgenders in the military and they didn't consider re-signing then and didn't consider re-signing from the strategy forum at the weekend. it wasn't changing his mind. it just wasn't what was on his mind according to a source and when the extra statement came on wednesday he thought things had gone a little too far and perhaps was the fact that they only met twice and that things weren't necessarily achieving as much versus as andrew was saying that seat at the table, the business round table something that is considered more influential and that's what changed in the 48 hours between his two statements. >> it just underscores the point and andrew jump in if you a

that's why jamie dimon and those guys, the business leaders, are running away.ri: we've got a long darn time until this is over, three years. >> i agree. that's why the markets are selling off. gerri: charlie, great reporting. thanks for coming on. >>> blake burman joining us from inside the white house briefing room. blake? >> reporter: charlie just went through some of the timing there. a white house source telling fox that steve bannon had tendered his resignation back on august 7th, about 11 days ago, and then came this article, an interview that he gave to a liberal-leaning outlet in which bannon made some comments that had undercut the president. fast forward to today, the white house is saying, hey, look, this was at least a parting of mutual terms. here was the press secretary, sarah huckabee sanders, quote: white house chief of staff john kelly and steve bannon have mutually agreed today would be steve's last day. we are grateful for his service and wish him the best. a source tells fox that bannon will 100% go to bat for the president, that there won't

>> well, we have heard from jamie dimon, jeff. we had him on our air last week. >> on this matter?his point is -- exactly you expect him to somehow turn his back on the unveiling of serious tax reform because of this that seems like a leap >> you know, out of self interest, since you raised the self interest angle, tax reform, regulatory reform, trade matters, if he had don't have the support of the general public, they're not going to get this through so out of serious and own self interest you would think they would rally. i think some will start to see more people even speak out on such matters because hthey are the most trusted. unlike clergy and public officials, they have soaring trust factors right now in terms beingmajor influencers in society. ceos are highly respected. no mat bhater what you by this company or that company, they're a force of moral integrity if dwoenlt hang together, then we all hang separately can you start picking off ceo after ceo the way ken was tacked wrongly by the president on the exact wrong issues to attack him on but you can take a look at any c

jpmorgan's ceo jamie dimon writing, sit a leader's role in business or government to bring people togethert tear them apart. the nation's top labor leader also lashing out. >> we believed that the symbolism of being soeassociate with that spirited defense of bigotry was unacceptable. >> reporter: it's a punch in the gut to mr. trump, a billionaire former ceo who ran as the jobs president. >> he needed corporate america to back his claims that he was a businessman president who could get thing doens with their help. now they have turned their backs on him. >> reporter: the president's surrogates largely silent. the vice president rushing to his defense. what is happened in charlottesville was a tragedy. and the president has been clear on this tragedy and so have a. >> reporter: both former bush presidents saying, america must always reject racial bigotry, anti-semitism and hatred in all forms. >> pathetic, suspect it? the president of the united states needs to condemn these kind of hate groups. >> reporter: a cascade of criticism that could further stall the president's agenda. >> i think

jpmorgan adjacent ceo jamie dimon said in a statement, fanningdy veesiveness is not the answer.is a leader's role in business or government to bring people together, not tear them apart. the events in charlottesville have raised the national debate over what to do with federal monuments. in richmond, virginia, the former capital of the confederacy, the city will examine the removal or relocation o monuments. confederate monuments have already come down the in cities from baltimore to new orleans. the federal poverty law center estimates there are some 1500 confete rat memorials across the country. there are 10 u.s. military bases named after confederate officers. >>> a memorial was held for the woman killed when a car mowed down counterprotesters in charlottesville over the weekend. heather heyer's mother says the way you honor her is to make a difference in the world. >> no father should have to do this. >> heather heyer's father shared his pain during her memorial in virginia. >> love my daughter. as i look out on you guys, you loved her, too. >> the 32 yield was killed while

jamie dimon te hated industry in america a few years ago and now they're setting the bar in terms of leadership. this is a huge embarrassing blow for president trump and ivanka, who led this council. >> if and when president trump gets around to dealing with things like deregulation and tax reform, are these same people going to be right on board? >> they're not afraid of president trump anymore. at this point he has said so much but done so little and we're so far away from his agenda. jamie dimon can say, i can walk away from him and make a ton of money in terms of deregulation and tax cuts. at some point for them enough is enough. they had to deal with the travel ban and immigration policy and paris accords. they wanted to go back to work. they're tired of hearing about this. >> that's the biggest fallout which has been with big business. what about the political fallout? did you expect do you expect resignations? think there's more to come? >> i think there's possible more to come. if you're john kelly, you're relieved you have 24 hours without high profile, some resignation. the

morgan employees, jamie dimon said he strongly disagreed with the president and said it was "a leader'sole, in business or government, to bring people together, not tear them apart." the president's comments also drew sharp rebukes from fellow republicans. ohio governor john kasich: >> he has to fix this and republicans have to speak out. >> reporter: in a statement, senator lindsey graham said, "mr. president, your words are dividing americans, not healing them." but house speaker paul ryan and senate majority leader mitch mcconnell chose to denounce the sentiment, rather than the president. >> and i stand with the president, and i stand by those words. >> reporter: today in chile, vice president mike pence defended the president. >> the strength of the united states of america is always strongest as the president has said so eloquently, when we are united around our shared values. and so it will always be. >> reporter: anthony, top aide gary cohn was visibly dismayed yesterday by the president's comments, but he has no plans to resign. v.a. secretary shulkin said he's also staying, bu

i'm sure that jamie dimon and schwartzman will talk to trump as needed.hink if i were a stock market investor knowing that steve bannon was no longer going to be in the white house, that would make me feel a little bit more comfortable. trump always does things to defy conventional whic wisdom, but i would take some comfort from that. vonnie: effectively what difference will this make if indeed it does happen or perhaps it has a even already happened? you said he will have the president's ear. it's not quite clear how much it of his ear sean spicer has. there's also the idea that bannon will still carry on and do what he is doing on the outside. marty: right. i do think the market is rallying less on the departure of bannon and more on the ascension of kelly as a chief of staff. he does want to impose a single-minded vision on this white house. a sign of that. at the same time, remember that trumpelly cannot control at his news conference. you all remember the photos of him looking down at his shoes. he has prevailed on this matter of steve bannon althoug

worried about that it's ancient history if there's a message >> speaking of the banks, we should note jamie dimonl be on cnbc with an interview tuesday 11:30 a.m. eastern time. set your calendar reminders now. you did say jpmorgan was going to be the easiest trade on the planet if the market's going higher, jpmorgan is trading 100 in the next couple of months. >> got a question, send us a tweet. check out our website. while your there, check out our cool newsletter. rumor is, it's all carter read while he was on vacation so what are you waiting for? here's what's coming up next >>> vix may seem calm, but it just did something positively terrifying we'll tell you what that is and what it means for the market >>> plus, calling all options action fans. tweet us your question at options action if it's nice, we'll answer it on air. when "options action" returns. >> logical [pony neighing] what? hey gary. oh. what's with the dog-sized horse? i'm crazy stressed trying to figure out this complex trade so i brought in my comfort pony, warren, to help me deal. isn't that right warren? well, you could get s

jamie dimon says walk away from him, strapped to make money deregulation, tax cuts but at some pointugh is enough. not just this week. they had to deal with the travel ban, immigration policy, paris accords. they want to go back to work. they are tired of hearing about this. >> biggest fallout big business. what about the political fallout. did you expect it to be more? did you expect resignations? do you think there's more to come? >> i think it's possible there's more to come. if you're john kelly you're relieved you made it 24 hours without some high-profile resignation. there was some hints but none of that came to fruition. the republicans -- it's fascinating to watch republican leaders here. on the one hand they are very uncomfortable. on the other hand they are not sure -- if they speak out, they are not sure how the base is going to react to them. they are still making a political calculation with the president. wrong they are making a calculation that's beyond their own politics right now. that could change but right now that's where they shall. >> steve bannon has always be

>> think about the irony, jamie dimon, the financial industry.s was the most hated industry in america a few years ago and now they're setting the bar in terms of moral leadership. this is a huge embarrassing blow for president trump and jared and ivanka who led this council. >> are they setting a moral bar or grandstanding? because you have to wonder if down the road when -- if and when president trump gets around to dealing with things like deregulation and tax reform, are these same people going to be right on board? >> they're not afraid of president trump anymore. at this point he has said so much but done so little and we're so far away from his agenda. yes, jamie dimon could say "i shouldn't walk away, i could stand to make a ton of money in terms of deregulation, tax cuts." but at some point for them enough is enough. it's not what happened this week. they had to deal with the travel ban and immigration policy and paris accords. they're tired of this. >> that's the business fallout. what about the political fallout, chuck? did you expect

jpmorgan ceo jamie dimon writing it's a leader's role in business or government to bring people together, not tear them apart. the nation's top labor leader, richard trumka, also lashing out. >> we believed that the symbolism of being associated with that spirited defense of racism and bigotry was just unacceptable. >> reporter: it's a punch in the gut to mr. trump, a billionaire former ceo who rans a the jobs president. >> he needed corporate america to back his claims that he was a businessman president who could get things done with their help. now they've turned their backs on him. >> reporter: the president's surrogates largely silent. the vice president rushing to his defense. >> what happened in charlottesville was a tragedy, and the president has been clear on this tragedy and so have i. >> reporter: both former bush presidents saying in a rare joint statement, america must always reject racial bigotry, anti-semitism and hatred in all forms. >> pathetic, isn't it? just pathetic. the president of the united states needs to condemn these kind of hate groups. >> reporter: a cascade

in a letter to employees, jp morgan ceo jamie dimon writing "i strongly disagree with president trump's reaction to the events that took place in charlottesville over the past several days. racism, intolerance and violence are always wrong." the ceos called the white house to inform the president of their decision and he quickly put out this tweet -- "rather than putting pressure on the businesspeople of the manufacturing council & strategy & policy forum, i am ending both. thank you all!" the saga is taking a toll on the white house. among some in the president's inner circle a sense of exasperation. the president's new chief of staff, john kelly, spotted at that combative off-the-cuff press conference, staring down at the floor, at times seeming to wince. the political fallout has been swift. republican senator lindsey graham saying the president took "a step backward" adding, "your words are dividing americans, not healing them." marco rubio tweeting the white supremacy groups will see being assigned only 50% of blame as a win. we cannot allow this old evil to be resurrected. and tod

jamie dimon joi james dinan, and then jamie dimon tomorrow on cnbc are you ok? what happened? dad kinda walked into my swing. huh? don't you mean dad kind of ruined our hawaii fund? i thud go to the thothpital. there goes the airfair. i don't think health insurance will cover all... of that. buth my fathe! without that cash from - aflac! - we might have to choose between hawaii or your face. hawaii! what? haha...hawaii! you might have less coverage than you think. visit aflac.com and keep your lifestyle healthy. aflac! that's why at comcast we're continuing to make4/7. our services more reliable than ever. like technology that can update itself. an advanced fiber-network infrustructure. new, more reliable equipment for your home. and a new culture built around customer service. it all adds up to our most reliable network ever. one that keeps you connected to what matters most. news out from tesla. the car maker announced intention to rate $1.5 billion in a debt offering, wants to bolster the balance sheet trying to scale up production of its model 3. >> you missed the most imp

owlfred frost is sitting dn with jamie dimon that interview at 11:30 eastern time >>> welcome back tocommodities futures trading commission has a newly confirmed chairman joining us is cftc chris giancarlo. he was unanimously confirmed by the senate he has been working as acting chairman since january congratulations. >> thank you very much >> welcome aboard. >> pleasure. >> what are you going to do? i know you've been acting. but now that you have the title. >> it was an honor to be confirmed by the senate unanimously. and in fact, it's my second time i was first nominated by president obama, unanimously confirmed by a democrat senate three years ago and now appointed by president trump to serve as full-time chairman, and unanimously confirmed by a republican controlled senate it's great to have a bipartisan support for an agenda that's both committed to completing the reforms that were set out for the global swaps market in 2009. but also moving forward and looking at some of the new challenges to our markets that were never addressed in dodd-frank >> what's your first priority? wha