What's Worrying JPMorgan's Dimon? Bad Policy

"And it can all be fixed, so I worry mostly about our own public policy," Dimon said, adding, "The government shutdown — I put in the same category."

Earlier this week on a media call discussing fourth-quarter results, Dimon referred to an economist who estimated that if the shutdown lasted for the whole first quarter it could reduce growth to zero.

"Now, I don't know that," Dimon said on Wednesday. "It would be really hard to figure out what the shutdown does to the economy."

But he did stress that the shutdown was a negative for businesses.

"Sentiment does matter in business — so, the more you create negative sentiment, the worse it is," he explained.

Dimon added that he hoped there's a deal to be done to end the shutdown.

His suggestion: "Give the president money for border security — I don't care whether you call it a wall or fence or whatever. And then, do something for DACA or merit-based immigration, which we need anyway, and almost every citizen is for."

Dimon called for more compromise in government.

"When the democracy was formed, that meant you compromise. That's what democracy is. You can't have a democracy where you refuse to compromise," Dimon said. "At one point, you've got to get back to regular government."

— Related on ThinkAdvisor:

• Warren Probes Wells Fargo, BofA on Shutdown Assistance Plans
• US CEOs Forecast Slower Growth; Oppose Trade Barriers