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What These 5 Banks Think About Tax Reform, Interest Rates, Real Estate And The Economy

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Seeking Alpha) by executives at Germany’s Deutsche Bank, U.S. national banks JPMorgan and Wells Fargo, and prominent regional players Wintrust Financial Corp. and New York Community Bank, broken down by topic.

Tax reform

U.S. President Donald Trump holding a meeting about tax reform legislation in the White House in January. (Andrew Harrer/Bloomberg)

Deutsche Bank CEO John Cryan: There is “much uncertainty” about the effect of U.S. tax changes and the Basel III rules finalized in December.

JPMorgan Chase CEO James Dimon:The changes in the tax code could improve “American competitive growth in the global economy” in the long run, bringing back brains and capital from overseas. “It’s the cumulative effect of retained capital and increasing competitive American companies that will drive jobs and ways in the long run.”

JPMorgan Chase CFO Marianne Lake: “The modernization of the U.S. tax code is a significant step forward for the country and a big win for the economy.” Tax reform is “a positive” that provides more certainty and clarity to clients and is expected to “boost growth in the economy,” improving cash positions and increasing profitability This is likely to affect the capital markets space more quickly than loan growth.

Wells Fargo CEO Tim Sloan: “While it’s too early to determine the full impact, it appears that tax reform will benefit our customers and help grow the U.S. economy. … The feedback that we’ve been getting from our customers is that we should all be cautiously optimistic on the impact of the tax reform act on consumers. There have been millions of employed folks across the country that have gotten pay raises and bonuses and the like, and I think that’s a net positive for economic growth.”

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There’s been a lot of chatter and uncertainty surrounding the implications of the recent changes in U.S. tax laws and the interest rate hikes expected this year. As the real estate sector and the financial industry as a whole wonder where exactly we are in the economic cycle and what’s coming up next, we decided to see what nine executives at five banks, all of which are prominent commercial real estate lenders, think about the major issues of the day.

Below you’ll find comments made earlier this year (taken from call transcripts provided by Seeking Alpha) by executives at Germany’s Deutsche Bank, U.S. national banks JPMorgan and Wells Fargo, and prominent regional players Wintrust Financial Corp. and New York Community Bank, broken down by topic.

Tax reform

U.S. President Donald Trump holding a meeting about tax reform legislation in the White House in January. (Andrew Harrer/Bloomberg)

Deutsche Bank CEO John Cryan: There is “much uncertainty” about the effect of U.S. tax changes and the Basel III rules finalized in December.

JPMorgan Chase CEO James Dimon:The changes in the tax code could improve “American competitive growth in the global economy” in the long run, bringing back brains and capital from overseas. “It’s the cumulative effect of retained capital and increasing competitive American companies that will drive jobs and ways in the long run.”

JPMorgan Chase CFO Marianne Lake: “The modernization of the U.S. tax code is a significant step forward for the country and a big win for the economy.” Tax reform is “a positive” that provides more certainty and clarity to clients and is expected to “boost growth in the economy,” improving cash positions and increasing profitability This is likely to affect the capital markets space more quickly than loan growth.

Wells Fargo CEO Tim Sloan: “While it’s too early to determine the full impact, it appears that tax reform will benefit our customers and help grow the U.S. economy. … The feedback that we’ve been getting from our customers is that we should all be cautiously optimistic on the impact of the tax reform act on consumers. There have been millions of employed folks across the country that have gotten pay raises and bonuses and the like, and I think that’s a net positive for economic growth.”

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