Yahoo Finance Senior Reporter Brooke DiPalma speaks with Market Domination Host Josh Lipton about JPMorgan Chase CEO Jamie Dimon's (JPM) recent remarks, stating that the American Dream is "on life support" and has proposed new efforts to revitalize American-owned small businesses through a lending initiative.

Jamie Diamond thinks the American Dream is on life support.

Right.

Now, now, Mr. Diamond, he can tend to be somewhat downbeat. And and listen, he runs a big bank. You know, it's his job to think of of risks out there. kind of comes with the with the gig, but it was sort of a stark warning and so he has some plans to get after it. What what do you make of his plans?

Yeah, so some of those plans include lending up to $80 billion in the next 10 years through loans. They're also going to support more community driven initiatives. I mean, this is a time where we've been discussing a lot. Over the past year, small businesses have been hit certainly, not only by tariffs, but just so much uncertainty when it comes to consumer spending. And so now Jamie Diamond's sort of stepping in as he has in the past, as you noted, he's sort of always has been like ahead of the curve, trying to think about these big topic issues. And it looks like now he's sort of stepping in to help these small businesses in a big way.

Yeah, it sounds like uh the details. The bank is committing to adding 3 million new small business customers on top of the 7 million today. Uh wants to lend them up to 80 billion over the next 10 years through loans and support for community-oriented banks and investment funds. I mean, basically, I mean if you're Jamie Diamond, if if the American Dream is alive and well and the economy is humming, that's good for your bank too, right? They're getting more mortgages.

100%. More people keeping savings, more people investing, more of that. I mean, also what was interesting is he did note uh housing access and affordability. That's something we've been talking about so much, especially with the fear that there was going to be higher interest rates. Now we're talking more of a rate cut, but there was like this heightened fear like, oh my gosh, are mortgage rates going to get higher again? So this is interesting too that he's also trying to tap into these other segments that are really impacting Americans's mindset about what exactly they can afford these days.