Jimmy Damon from JPMorgan criticizes the rules of mortgage lending on the company’s investor day

Jimmy Damon, CEO of JPMorgan Chase, criticized financial organizations for not alleviating the borrowers who buy a house saying it is unnecessary.

Damon was speaking on the annual investor day at JPMorgan Chase, which was almost held, and discussed his frustration with the rules of mortgage lending that increases costs and made home ownership less expensive for low -income buyers.

“I mentioned over and over again, The cost of mortgages real estate Like 50 or 75 points higher due to the regulations that do not need to be there, which do not benefit safety and safety. “

Jimmy Damon says the recession is still a possibility: “I will not take it out of the table at this stage.”

Dienon added: “And you know who is the one who hurts me more than others?

He went on to say, “It is a great disappointment that we did not go to do so in the past ten years.”

Dienon also discussed him Persons on the general economy, Expressing anxiety about the possibility of recession – a period of high inflation along with slow growth and potential weakness in the labor market.

Freddy Mac says that mortgage rates are increasing for the first time in weeks

“I think the worst for the bank and most companies is the recession, and it is mainly a stagnation with inflation,” he said, adding that the chances of stagnation that take place about twice what the market expects.

JPMorgan Chase CEO has long formed what he deems satisfied with central banks and markets that give deficit and definitions in the budget.

“We have a big deficit, we have what I consider to be the central banks of contentment. You all think they can manage all this. I don’t think they can,” he said.

index	protection	last	Changing	% Change
Jpm	Jpmorgan Chase & Co.	265.74	+0.80	+0.30 %

Damon said that the definitions have created a lot of risks in the economy because of their impact on trade, adding that he believes that the market is satisfied with these risks, the possibility of slowing the economy and the high prices of consumers.

Dienon said: “My own view is that people are satisfied because you have not seen an effective tariff.” “the The market decreased 10 %. It has returned 10 %. I think this is an extraordinary amount of self -consent. “

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“When I saw all these things add up to the extremist ends, I don’t think we can predict the results, and I think the opportunity to inflation in height and stagnation is slightly higher than others believe,” he said. “There are a lot of things there, and I think you will see the effect.”

“Even at these low levels, if they take place in their place today, (that) is a very severe tariff. You also don’t know how every country will respond.”