Bloomberg News

Dimon Says U.S. Immigration Policy Drives Entrepreneurs Overseas

April 09, 2014

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 ztracer1@bloomberg.net

To contact the editors responsible for this story: Peter Eichenbaum at peichenbaum@bloomberg.net Dan Kraut


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