Name: Bank of America’s CEO Thinks America Is a ‘Great Country’
Uploaded: 2016-11-04
Duration: 3 min 41 s
Description: But says improvements can always be made

We heard a lot during this election make America great again. Do you think America has to be made great again. I will tell you that I have objective proof that America is a great country. Number one I happen to be affiliated with the university on a board and I can see the application pool from outside this country trying to get in, and it is unbelievable the talent that wants to come to this country that's a proof point right. People could go anywhere in the world, people have any capability in the world, and also The kids from the most dire circumstances in the world wanna get to this country, so that's one proof. And the second is look at the power in our economy and the fact that we can take this big economy, keep refreshing and growing. This country is a great country. Can it be improved? Absolutely, but is the great country, there's nothing, no place is rather be sitting here in New York city inside United State It seems that, business leaders are favor of Hillary Clinton becoming president. The market are indicating that a Donald Trump win Would create a lot of uncertainty and a stock sell off, that's why we're seeing all this volatility. Now, I'm not gonna ask you which candidate that you prefer, but from your perspective on all of this, is Clinton really that good for the markets, and is Donald Trump really that bad? The markets don't like uncertainty, they like continuity they like certainty. So what did brexit do it created uncertainty over what's gonna happen. What is the election cycle going on in Europe right now creates uncertainty. The markets and businesses say if I'm going to invest for years if I'm gonna invest to build a factory that's gonna last for 25 years I wanna have the most certain to have. Now what management skip paid for, and what our traders and investors get paid for is actually make a decision based on that answer. So it's not excuse to say they should stop, but on the other hand, it may gratial or change their view, and I think you're seeing that now. And once someone gets elected, and the person comes in [ UNKNOWN ] and leads the whole country which I think is a key thing, is to start to drive The whole country is a unified group. Whoever it is in the Congress and the Senate, the House, there's gonna be a whole bunch of new people. And they all sit there and say our job is to govern a whole, I think you'll see the uncertainty go back out of the market. It's just that the market, the market and businesses don't, if you have to plan across decades The thing you don't like is trying to figure out what can go wrong tomorrow. You try and figure out what's gonna go right, how can I find final demand, how can I drive a business from a product. And so I think that's what you're seeing but it'll go away. You probably saw the other day several hundred top economists publish a letter in the Wall Street Journal and said that Donald Trump Is called a destructive choice for the country. And some have said that Trump's policies could push the US economy into a recession. What are your economist here at Bank of America saying about what a Trump presidency would mean for the economy and the same for Hillary Clinton's policy, economic policies? I'm not worried about what a candidate says now, I'm worried what happens during their 19th or 20th and beyond. And what the policies come out and what the people surround themselves with kinds of people can think through the issues we're facing. We make investments, we need to make investments. Some people say infrastructures, some people say research, some people have other points of view, but we gotta come to come a point of view and drive that. We need to support our worldwide position as a leader and our economy, whether it's in In how we approach trade and how we approach other things. So those policies from a person, I'm not that old, but I guess I've always thought I was younger I've been through enough elections. But on the other side of this is time and from that January on. How people work together how they think through can we get bi- partisan initiatives approved. The immigration. The big part [ UNKNOWN ] never got anything, never got done. Those are things we need to think about. [ BLANK_AUDIO ].