JPMorgan chief warns mortgage market on oil shocks, private credit and AI risks

Date:

Share post:


AI build‑out and ‘nonsensical’ bank rules

On technology, Dimon reiterated that “overall, the investment in AI is not a speculative bubble; rather, it will deliver significant benefits,” likening its impact to electricity and the internet and predicting it would have a “huge positive impact on productivity.”

At the same time, he wrote that all the capital spending by large tech firms – which he estimated at $450 billion in 2025 and roughly $725 billion in 2026 – is “probably inflationary in the short run.”

Dimon again attacked elements of US capital rules, calling parts of the Basel 3 Endgame and GSIB surcharge proposals “frankly nonsensical” and arguing they would force JPMorgan to hold “as much as 50% more capital across the vast majority of loans to US consumers and businesses” than some rivals.

While he acknowledged post‑2008 reforms had “accomplished some good things,” he said they also created “a fragmented, slow‑moving system” that “reduced productive lending” – an outcome mortgage bankers have long warned could push borrowers toward non‑bank channels.

Stay updated with the freshest mortgage news. Get exclusive interviews, breaking news, and industry events in your inbox, and always be the first to know by subscribing to our FREE daily newsletter.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related articles

Bernie Sanders wants Americans to own a piece of AI. The Trump White House seems to agree

Senator Bernie Sanders wants every American to own a piece of OpenAI, Anthropic, and xAI. Late on...

Target: $10 Free Target Cash For Teachers & College Students (Create Wishlist, Add 10 Items)

The Offer Direct links to offer | Teachers | College Students Target is offering $10 free Target cash when...

BMI promotes four executives across Creative and Corporate Communications teams

BMI has promoted four executives across its Creative and Corporate Communications teams.The promotions, announced on Wednesday (June...