More people are working, lending is up and savings are up. These are all positive signs for a strengthening economy.

It's moderate growth, with some parts of the world better than people think, and better than last year [2015].

Because of that [Brexit], you're going to have slow growth and, unfortunately, while there may not be huge volatility, there will be volatility.

Europe is the most complicated place, in my opinion.

The goal of what Japan's central bank is doing is to create growth. If it actually creates growth, in the long run, it will lead to appreciation.

JP Morgan always has higher capital liquidity, that is partially to make up for mistakes and problems and obviously its a tough economy. We support an oversight committee, we supported some of the compensation, new compensation rules, though we already follow most of them. We support a lot of it.

If the government wants to do social policy, it should not be done in a quasi-public company. If you have a mortgage guarantee company which is done by the U.S. government, it should be guaranteed by the originators, i.e., the shareholder.