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Jamie Dimon: Tax cuts help accelerate growth

Jamie Dimon

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JP Morgan Executive Director said President Trump's tax cuts, along with other efforts, helped boost the economy.

"Presidents get a lot of credit and a lot of accusations for things they did not do, but Trump did things to speed up growth," said Jamie Dimon. "We needed these tax changes."

Dimon's comments came after the Trade Commission announced that the US economy grew by 4.1% in the second quarter. This is the highest growth rate since the third quarter of 2014, when the economy grew by 4.9%.

Last year Trump signed a bill that cut the corporate tax rate from 35% to 21%. Trump has also removed several regulations that he believed had hurt US business.

Dimon also said he was concerned about Trump's commercial policy, which could hinder the growth of the economy.

Source: CNBC

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