Jamie Dimon, CEO of JPMorgan Chase (NYSE:JPM), has been saying for weeks that investor fears about a contested election were overblown.
In mid-October, Dimon said in a memo to the bank's employees that he was "sure we'll have a proper election," and emphasized the importance for American democracy to have a peaceful transition of power.
Well, now that we're still waiting, as of noon EST the day after Election Day, to learn who won, and potential recounts loom in several key battleground states, many investors are feeling uneasy once again.
In light of the recent developments, Dimon did what he does best: He sent another message to JPMorgan Chase employees to calm everyone down and add some constructive thoughts to the (so far) rather nerve-racking process.
In the message today, Dimon told employees that we "must have faith in our electoral and judicial systems and have the patience and fortitude to await the final determination." In other words, don't pay too much attention to the noise coming from the news media (or the candidates themselves). A solid process is in place, and the large numbers of early and mail-in votes during the coronavirus pandemic mean that the results will just take a little longer than usual. Trust the process.
Dimon went on to say that "once a final outcome is determined, together we must move forward to address our nation's challenges."