President Trump’s economic agenda has “woken up the animal spirits” in the U.S., according to J.P. Morgan Chase & Co (JPYYL) chairman and chief executive officer Jamie Dimon.
Dimon, a vocal supporter of Trump’s business agenda, told Bloomberg Television that the President’s plans “will be good for growth, good for jobs, good for Americans.”
He said he believed that the caliber of Trump’s economic advisors gives him confidence, and advised observers to “forget the tweets” and instead focus on Trump’s policies to reduce corporate taxes, cut regulatory red tape and build new infrastructure.
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Following Trump’s election, Dimon was named chairman of the Business Roundtable and subsequently joined Trump’s policy forum aimed at bolstering job growth.
British economist John Maynard Keynes used the term animal spirits to describe instincts and emotions that buoy consumer confidence, which Dimon says has “skyrocketed” under Trump.