U.S. banks may be facing numerous headwinds, but they are not "zombies," Jamie Dimon told CNBC Wednesday.
"I love Meredith and all that but, honestly, most of that stuff is hogwash," the CEO of JPMorgan Chase said, referring to well-known analyst Meredith Whitney, who told CNBC earlier in the day that large U.S. banks are "turning into zombies" because they have little net worth but are backed by the government and continue to meet their obligations.
"All businesses have things that change all the time—interest rates, commodity prices, cost of wages, demand, supply—and you have to manage around that," Dimon said during a bus tour of California Chase branches. "That's not to say there's not negatives against banks. Bad economy is a headwind, volatility may not be but people being scared is a headwind."