Dimon Says American Dream Still Works for 80%, Slipping for Bottom 20%

1 articles · Updated · Fortune · Aug 10

Jamie Dimon said Gen Z is wrong to give up on the American Dream, arguing it remains achievable for most Americans even as it is "slipping" for the bottom 20%.
The JPMorgan CEO tied that divide to incomes that have not risen for 20 years or more, weaker schools, higher-crime neighborhoods and fewer opportunities—conditions he said fuel class polarization and anger.
Only about 20% of U.S. adults ages 18 to 29 believe the American Dream is possible, according to a June AP-NORC report, underscoring the skepticism Dimon said he understands even if he rejects the polling.
Dimon urged Democrats and Republicans to focus on policy fixes for inequality, while defending capitalism as flawed but preferable and saying it has still left some Americans behind.