JPMorgan Chase CEO Jamie Dimon on Monday said the U.S. government is inefficient and in need of work as the Trump administration terminates thousands of federal employees and works to dismantle agencies including the Consumer Financial Protection Bureau.<\/p>\n
Dimon was asked by CNBC\u2019s Leslie Picker whether he supported efforts by Elon Musk\u2019s Department of Government Efficiency. He declined to give what he called a \u201cbinary\u201d response, but made comments that supported the overall effort.<\/p>\n
\u201cThe government is inefficient, not very competent, and needs a lot of work,\u201d Dimon told Picker. \u201cIt\u2019s not just waste and fraud, its outcomes.\u201d<\/p>\n
The Trump administration\u2019s effort to rein in spending and scrutinize federal agencies \u201cneeds to be done,\u201d Dimon added.<\/p>\n
\u201cWhy are we spending the money on these things? Are we getting what we deserve? What should we change?\u201d Dimon said. \u201cIt\u2019s not just about the deficit, its about building the right policies and procedures and the government we deserve.\u201d<\/p>\n
Dimon said if DOGE overreaches with its cost-cutting efforts or engages in activity that\u2019s not legal, \u201cthe courts will stop it.\u201d<\/p>\n
\u201cI\u2019m hoping it\u2019s quite successful,\u201d he said.<\/p>\n
In the wide-ranging interview, Dimon also addressed his company\u2019s push to have most workers in office five days a week, as well as his views on the Ukraine conflict, tariffs and the U.S. consumer.<\/p>\n<\/p>\n
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