(Bloomberg) — JPMorgan Chase & Co. is adjusting its vaccine strategies locally based on the varying circumstances across the geographies where the biggest U.S. bank operates, Chief Executive Officer Jamie Dimon said.
“Unlike any other policy we’ve ever had, we’re not trying to be consistent,” Dimon said Monday in an interview on CNBC. “There are different laws and different requirements in cities and states and schools, and so here we’re adjusting locally.”
Dimon cited JPMorgan’s headquarters in New York as an example of a place where the firm has a mandate, adding that 97% of the firm’s employees there are vaccinated. The company last month began requiring vaccines at nine Manhattan office buildings, but has so far stopped short of requiring shots for all employees, unlike competitor Citigroup Inc., which is threatening unvaccinated employees with termination.
“As buildings get to 95% and 97% vaxxed in certain states, that may end up with a different policy than a different state,” Dimon said.
The longtime CEO also commented on the health of the consumer ahead of his firm’s fourth-quarter earnings report later this week, saying consumers have never been in better shape.
“They’re spending 25% more today than pre-Covid,” Dimon said. “Home prices are up, stock prices are up, jobs are plentiful, wages are going up.”
As far as inflation and the potential for Federal Reserve rate hikes, Dimon said the central bank will engineer a soft landing “if we’re lucky.” Still, it’s possible inflation is worse than the Fed thinks and will need to raise rates more than currently expected, he said.
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