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RNC Chairman Michael Whatley discusses big tech’s investment in AI on President Donald Trump’s first day in office on “The Evening Edit.”
Financial giant JPMorgan is implementing a “war room” to keep up with the immense policy changes being implemented by the Trump administration, which they believe will unleash America’s “animal spirits.”
“At JPMorgan, we have a war room set up to analyze and evaluate each and every one of them, so they’ve been up all night working on it,” said Mary Erdoes, managing director of the asset management business line. ‘assets and assets of JPMorganChase. , he told the crowd at the Davos World Economic Forum in Davos, Switzerland, on Tuesday.
“It is our usual practice to look at the impacts of any proposed policy on our business and the impact on our customers and the communities in which we operate. So naturally there is a team that reviews these new developments,” he said. say a JPMorgan spokesman. Fox News Digital.
President Donald Trump began his second term with a barrage of executive orders, undoing 80 Biden-era orders. During his first term, Trump campaigned on introducing tariffs on foreign goods, lowering the corporate tax rate and expanding tax cuts.
President Donald Trump began his second term with a barrage of executive orders. (Joe Raedle/Getty Images/Getty Images)
TRUMP SIGNS DOZENS OF EXECUTIVE ORDERS, FULFILLING MANY, BUT NOT ALL, CAMPAIGN PROMISES
“The last 24 hours are showing that there will be many changes that we will all have to digest,” Erdoes said.
Erdoes told the crowd of business leaders and international politicians that Trump appears to be creating a “very business-friendly environment” in the United States.
“Time will tell, but a lot of this is exactly what you would do to have a very business-friendly environment,” he added.
Trump’s inauguration was attended by numerous business leaders, including Meta CEO Mark Zuckerberg, Tesla and SpaceX CEO Elon Musk, Amazon founder Jeff Bezos and UFC boss Dana White .
The JPMorgan executive claimed that the US economy is in “run mode” and that America’s “animal spirits” are finally being released. He also praised Trump for ordering federal employees to report to the office for work, ending work-from-home policies.
JPMorgan believes Trump’s changes will be good for the economy. (Reuters/Brendan McDermid/Reuters Photos)
“Thank God the U.S. government has done that, and hopefully that will keep us ahead of other governments around the world so we can continue to compete.”
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Erdoes attacked the endless bureaucracy of the Biden administration for “stifling” business activity in the US.
“If you look at the last administration and the number of significant new regulations, it was eight times greater than the previous Trump administration,” he said. “With that comes several million man-hours of paperwork. Work that clogs up the system and prevents the economy from continuing to have this very healthy steering wheel. So we’re looking forward to it.”
