JPMorgan CEO Jamie Dimon says US economy still very strong

JPMorgan CEO Jamie Dimon remains positive about the U.S. economy. He says 70 percent of the economy is quite strong.

Dimon made comments on a number of issues in an interview on CBS' "60 Minutes" on Sunday night.

"Confidence is very high. Their balance sheets are in great shape. And you see that the strength of the American consumer is driving the American economy and the global economy," said Dimon. "And while business slowed down, my current view is that, no, it just was a slowdown, not a petering out."

Dimon says the world today is no more unpredictable than it has been in the past.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

"Human nature looks at fear and reacts to the short run. But again there’ve been like 50 or 60 international crises since World War II," he said. "Only one really affected the global economy in the short run."   Dimon said it was the 1973 Middle east oil crisis that sent gas prices soaring.

Dimon acknowledged that income inequality is a growing concern. When asked if he would give up his $31 million pay package, Dimon countered that it is set by the board and he has nothing to do with it and that it wouldn't solve the problem.

"I would not have cut the tax on the rich. I would've extended the Earned Income Tax Credit instead – which is like a negative income tax credit for lower-paid people. We probably should change the minimum wage, which I don't think has been changed for like 10 or 15 years. There are solutions to these problems. The problems are real.  It does not mean Free Enterprise is bad," said Dimon.

CLICK HERE TO READ MORE ON FOX BUSINESS

He also said that institutional mistakes were made during the lead-up to the 2008 financial crisis by the banking industry.