Jamie Dimon Rips Washington for Hobbling US Economy

Jamie Dimon, the CEO of JP Morgan Chase, the nation's largest bank, made it clear he thinks Washington is a big part of the problem with America's economy.

In a conference call with reporters and Wall Street analysts, Dimon said other countries understand good policies to promote business growth better than the U.S.

He called the U.S. one of the most bureaucratic, confusing, and litigious societies on earth.

Dimon said the high corporate tax rate has been driving U.S. business money out of the U.S.

But he added the U.S. can improve its economy if the Trump administration cuts business taxes, reforms regulations and infrastructure.

He also said cutting taxes isn't just something good for corporations -- it's to help businesses grow, which is important for jobs and higher wages.