Jamie Dimon, the chief executive officer of JPMorgan Chase & Co. (JPM:US), said the U.S. needs to fix its laws on immigration, both for moral reasons and to boost the nation’s output.
Current policy is “driving brains and entrepreneurs overseas,” Dimon wrote today in a letter to shareholders of his New York-based bank. “Most economists think a good immigration policy could accelerate U.S. economic growth by 0.2 percent right away and by 2 percent over a 10-year period. This, alone, could create 3 million jobs.”
To contact the reporter on this story: Zachary Tracer in New York at email@example.com
To contact the editors responsible for this story: Peter Eichenbaum at firstname.lastname@example.org Dan Kraut