Speaking at last week's World Economic Forum meeting in Davos, Mary Callahan Erdoes, CEO of JPMorgan Asset & Wealth Management, described US banks as being in "go-mode" under Donald Trump, with "animal spirits" thriving due to anticipated lighter regulations, as reported by the Financial Times.
Erdoes highlighted the stark contrast with Joe Biden's administration, which introduced "eight times the number of significant new regulations" compared to Trump's first term. She argued a reduced burden would unclog the system and encourage dealmaking, including IPOs, by alleviating the "millions of man-hours of paperwork" required under stricter regimes.
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