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JPMorgan's Jamie Dimon says Trump's tax reform may take 9 months or longer

JPMorgan Chase CEO Jamie Dimon says changes to tax law proposed by President-elect Donald Trump could take much longer than Wall Street anticipates to become law.

"It's going to take nine months, 12 months. The real detail work has to get done," Dimon told CNBC during an interview from the World Economic Forum in Davos, Switzerland.

In anticipation of Trump's policies seeking lower taxes and deregulation, financial stocks have rallied more than 18 percent compared with a gain 6 percent for the S&P 500 index. Traders warn that any potential delays in changing tax laws could cause the rally to fizzle.

In this in-depth conversation, Dimon shares his views on the financial sector and also discusses:

  • His outlook for the U.S. economy.
  • The policies that could propel earnings growth.
  • The path ahead for the stock market.

To watch the broadcast interview in its entirety, you must be a CNBC PRO subscriber.