JPMorgan Chase CEO Jamie Dimon said Tuesday that the Iran war poses near-term risks but may ultimately improve prospects for lasting peace in the Middle East.
Speaking with Palantir executive and former Congressman Mike Gallagher at a conference in Washington, D.C., Dimon said the regional attitude toward peace has fundamentally shifted from two decades ago.
"I think the Iran war makes it a better chance in the long run — it's probably riskier in the short run, because we don't know the outcome of it," Dimon said.
The CEO pointed to a convergence of interests among regional powers. Saudi Arabia, the United Arab Emirates, Qatar, the U.S. and Israel all want permanent peace, he said, adding that Persian Gulf states in particular have shown a willingness to move in that direction.
"The attitude is not what the attitude was 20 years ago," Dimon said. "They all want it."
Dimon, who leads the world's largest bank by market cap, tied his Middle East analysis directly to economics. He argued that foreign direct investment, which had been flowing into the region for years, will dry up without stability.
"They can't have neighbors lobbing ballistic missiles into their data centers," he said.
In the interview, Dimon said the U.S. needed to "get our act together" when it comes to industries that are key to national security, part of his motivation for creating a $1.5 trillion initiative last year.
source https://www.investing.com/news/economy-news/jpmorgans-dimon-iran-war-risky-nearterm-but-may-bring-middle-east-peace-4578208
