US banks are “at the beginning of the journey” and “the spirits of the animals are alive”, said the chief executive of JPMorgan Chase, as the ease of administration under President Donald Trump is likely to stimulate trade in the world's largest economy.
Speaking at the World Economic Forum in Davos on Tuesday, Mary Erdoes, head of asset and wealth at the Wall Street lender, said she is “hopeful” that Trump's administration will boost the US economy, easing the burden placed on banks. business is the Biden administration.
“If you look at the last administration and the number of new, significant regulations, it was eight times the number of significant new regulations against the Trump administration,” Erdoes said.