The Trial Balance is CFO.com’s weekly preview of stories, stats and events to help you prepare.
Part 1 — Jamie Dimon says execs are frustrated, must help Trump administration
During a recent interview with CBS News, JPMorgan Chase CEO Jamie Dimon discussed several topics but primarily focused on what the country needs to do from a political and business perspective to help working-class Americans get back to a level of growth and prosperity. Though he acknowledged the country’s image on paper and in reality differs, Dimon was largely critical of current government policies, particularly the Biden administration’s immigration efforts, national security policies, non-diverse supply chains and its tendency to “virtue signal.”
Throughout the interview, Dimon told interviewer Lesley Stahl that he would fight policies such as over-regulation and government measures that inhibit business “until the day I die.”
The two discussed government regulation’s impact on infrastructure development, with Dimon saying, “What is that about? I wouldn’t accept [decade-long delays in development] at JPMorgan, but the American public knows this is going on, they know varied interest groups get benefits from whatever government or [political] parties, and in my opinion, it should all stop.”
Dimon also noted many business leaders he knows feel the same way about corruption and over-regulation’s effect on business development. “I tell all the [fellow business leaders in my network], ‘I know you can get discouraged, but that isn’t going to fix it.’”
When asked about his position on tariffs, Dimon said he hadn’t spoken to Trump directly about his plans for one of his most prominent economic policies. However, he seemed supportive of the idea as a negotiation tactic to address some of the lopsided economic policies that have devastated countless once-flourishing middle-American communities.
“We had a thing called Trade Adjustment Assistance, which was supposed to give people retraining, relocation [and] income assistance if they were hurt by trade, and it never quite worked,” he said. “We need to focus on some of those issues, and to me, tariffs are a way and a tool, if properly used, that can help get some of those issues resolved.”
He also discussed current government members’ desires and Trump’s plan to address individual and corporate growth in America, as well as initiatives he has highlighted in his shareholder letters. “Share the wealth a little bit, create equal opportunity, which was the dream of this country,” Dimon said. “The new president is going to try and fix some of this stuff; let’s try and help him.”
Though Dimon is supportive of Trump now, his rhetoric continues to drive speculation that he may be intending a future run for presidency after his succession plan, currently in development, is executed. Dimon did note during the interview that his successor has not been determined yet and hinted it’s likely he will remain in his current position throughout the incoming Trump administration’s tenure.
Part 2 — This week
Here’s a list of important market events slated for the week ahead.
Monday, Jan. 13
Tuesday, Jan. 14
- NFIB optimism index, Dec.
- Producer price index, Dec.
- Core PPI, Dec.
- Fed Beige Book
Wednesday, Jan.15
- Consumer price index, Dec.
- Core CPI, Dec.
- Empire State manufacturing survey, Jan.
- Philadelphia Fed manufacturing survey, Jan.
Thursday, Jan. 16
- Initial jobless claims, week of Jan. 11
- U.S. retail sales, Dec.
- Retail sales minus autos, Dec.
- Import price index, Dec.
Friday, Jan. 17
- Housing starts, Dec.
- Building permits, Dec.
- Industrial production, Dec.
Part 3 — Carvana’s accounting practices, corporate finance labor trends, being a good parent and CFO
This week, CFO.com will publish a story on the speculation around Carvana’s recent performance (1/14), data on private equity deal intention in 2025 (1/15), an outlook on finance and accounting labor trends in 2025 (1/16), a new CFO Peer Audit Series edition on balancing spousal and parental responsibilities with those of executive leadership (1/17) and more.
