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International Business Times
International Business Times
Business

Jamie Dimon Announces $1.5 Trillion JPMorgan Program to Reinforce America's Economic Security

JPMorgan Chase is expected to reach a resolution with a third US regulator that will require the bank to pay a civil penalty of $100 million.

JPMorgan Chase CEO Jamie Dimon has announced a bold $1.5 trillion plan to support America's national and economic security.

The new 10-year program, called the "Security and Resiliency Initiative," will focus on four critical industries: manufacturing, energy, defense, and advanced technology.

"This is a JPMorgan initiative," Dimon stated in a call with reporters. "It's 100% commercial." He made clear that the plan is not tied to any government or political agenda, Reuters reported.

Dimon explained the reason behind the move, saying, "The United States has allowed itself to become too reliant on unreliable sources of critical minerals, products, and manufacturing – all of which are essential for our national security."

JPMorgan plans to invest up to $10 billion in US-based companies through direct equity and venture capital.

These investments will help companies grow, innovate, and produce more at home. The broader $1.5 trillion will go toward financing and supporting projects across the targeted sectors.

According to the firm, this effort will cover 27 sub-sectors, including cybersecurity, semiconductors, nuclear energy, and shipbuilding. The goal is to boost supply chain stability and build key technologies in the US.

Jamie Dimon Calls for Faster Investment, Policy Reform

According to FoxBusiness, Dimon also pointed to the need for policy changes. "America needs more speed and investment," he said.

"It also needs to remove obstacles—like too much regulation, slow processes, political fights, and outdated education systems."

As part of the plan, JPMorgan will hire more bankers, investment experts, and create an advisory council.

This council will include leaders from both public and private sectors to guide the long-term strategy.

Mary Erdoes and Doug Petno, two senior leaders at the bank, will lead the program. They're seen as top candidates to succeed Dimon as CEO in the future.

The company had already planned $1 trillion in investments across these areas. Now, with this announcement, JPMorgan is adding another $500 billion, bringing the total to $1.5 trillion.

Dimon said the goal is simple: to protect America's future. "Our security is based on the strength of our economy," he said.

"Hopefully, once again, we will all come together to face these big challenges. We need to act now."

Originally published on vcpost.com

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