JPMorgan Chase launches $1.5 trillion plan to bolster US economic and national security

JPMorganChase on Monday unveiled a sweeping $1.5 trillion, decade-long initiative to strengthen industries vital to America’s economic and national security.The effort — dubbed the "Security and Resiliency Initiative" — will direct $1.5 trillion toward projects spanning energy, manufacturing and defense. As part of the plan, the financial giant will invest up to $10 billion in direct equity and venture capital to help select U.S.-based companies "enhance their growth, spur innovation and accelerate strategic manufacturing," the company said."It has become painfully clear that 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," Jamie Dimon, chairman and CEO of JPMorganChase, said in a statement. JAMIE DIMON WARNS OF MAJOR MARKET RISK IN NEXT FEW YEARSDimon added, "Our security is predicated on the strength and resiliency of America’s economy. America needs more speed and investment. It also needs to remove obstacles that stand in the way: excessive regulations, bureaucratic delay, partisan gridlock and an education system not aligned to the skills we need."The company said it will focus on four key areas, including supply chain and advanced manufacturing, defense and aerospace, energy independence and resilience and frontier and strategic technologies. These four areas are further broken down into 27 sub-areas which range from cybersecurity to nuclear energy to critical defense components, as noted in the announcement.JPMORGAN EXPANDS AFFLUENT BANKING NETWORK WITH 14 NEW FINANCIAL CENTERS"This new initiative includes efforts like ensuring reliable access to life-saving medicines and critical minerals, defending our nation, building energy systems to meet AI-driven demand and advancing technologies like semiconductors and data centers. Our support of clients in these industries remains unwavering," Dimon said.JPMorganChase will also advocate for policies aimed at accelerating these efforts and conduct targeted research on private companies and supply chain issues related to rare earths, AI and advanced technology. JPMORGAN CEO REVEALS WHAT'S KEEPING THE AMERICAN ECONOMY STRONG DESPITE GLOBAL CHALLENGESThe financial institution had already planned about $1 trillion over the next decade to support these sectors. With this initiative, the firm is increasing that total by another $500 billion, according to the announcement.As part of the initiative, JPMorganChase will hire additional bankers, investment professionals and industry experts. It will also form an external advisory council to help guide its long-term strategy.GET FOX BUSINESS ON THE GO BY CLICKING HERE"Hopefully, once again, as America has in the past, we will all come together to address these immense challenges," Dimon said. "We need to act now."Weiter zum vollständigen Artikel bei FOX Business Weiter zum vollständigen Artikel bei FOX Business