JPMorganChase Launches $1.5 Trillion Plan to Boost American Manufacturing Critical to National Security…

“America remains the bastion of freedom and, equally important, the arsenal of democracy. Our own security is predicated on a strong and resilient domestic economy, which guarantees our ability to build, innovate and to maintain the most capable military in the world. Global peace and world order depend on it,” Jamie Dimon, the chairman and CEO of JPMorganChase, wrote in an op-ed for the Wall Street Journal.

“Our adversaries and potential adversaries aren’t waiting—we no longer have the luxury of time. America needs more speed and investment. It also needs to remove obstacles that stand in the way: excessive regulation, bureaucratic delay, partisan gridlock and an education system misaligned with the skills we need,” he added.

Dimon wrote that JPMorganChase is taking action to launch the Security and Resiliency Initiative, a ten-year, $1.5 trillion plan to finance and invest in industries critical to national security such as rare earth minerals and artificial intelligence.

“This will also help create economic growth, innovation and jobs in America. It will include direct equity investments of up to $10 billion of our own capital in select companies. This effort will cut across investment banking, middle-market banking and commercial banking,” he continued. “It will include special research on private industries and important issues like supply-chain weaknesses on rare-earth metals. It will also include trying to design policies that can accelerate these efforts, including training, research and development, permitting, and regulations conducive to growth.”