CEO Dimon States, JPMorgan adjusts vaccination policy locally

CEO Dimon States, JPMorgan adjusts vaccination policy locally

JPMorgan Chase and Co. is changing its vaccine strategies privately dependent on the differing conditions across the geographies where the greatest U.S. bank works, Chief Executive Officer Jamie Dimon said. To the extent inflation and the potential for Federal Reserve rate climbs, Dimon said the central bank will engineer a soft landing “if we’re lucky.” Still, it’s conceivable inflation is more awful than the Fed might suspect and should raise rates more than right now expected, he said.

Dimon cited JPMorgan’s headquarters in New York as an example of a place where the firm has a mandate, adding that 97% of the firm’s employees there are vaccinated. The company last month began requiring vaccines at nine Manhattan office buildings, but has so far stopped short of requiring shots for all employees, unlike competitor Citigroup Inc., which is threatening unvaccinated employees with threatening unvaccinated employees with termination.

“Unlike any other policy we’ve ever had, we’re not trying to be consistent,” Dimon said Monday in an interview on CNBC. “There are different laws and different requirements in cities and states and schools, and so here we’re adjusting locally.”

“As buildings get to 95% and 97% vaxxed in certain states, that may end up with a different policy than a different state,” Dimon said.

“They’re spending 25% more today than pre-Covid,” Dimon said. “Home prices are up, stock prices are up, jobs are plentiful, wages are going up.”

The longtime CEO also commented on the health of the consumer ahead of his firm’s fourth-quarter earnings report later this week, saying consumers have never been in better shape.

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