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U.S. should be ready for more stimulus:JP Morgan CEO

Mon Jul 7, 2008 11:18pm EDT

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NEW YORK, July 7 (Reuters) - JP Morgan Chase & Co (JPM.N) Chief Executive Jamie Dimon said U.S. policy makers should be prepared to implement another round of fiscal stimulus.

"We have a real fiscal issue in the long term. I think they should be prepared for another round," Dimon said in an interview with Charlie Rose on PBS, televised on Monday.

"Letting Fannie Mae (FNM.N) and Freddie Mac (FRE.N) and FHA (the Federal Housing Administration) finance more mortgages -- you know, not to bail out Wall Street firms, just to make it easier for people to finance homes -- I think would be helpful," he said.

Dimon also said directed tax cuts to "lower-paid people" to help ameliorate the downturn could also help the economy. (Reporting by Michael Erman; Editing by Lincoln Feast)



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