Poverty

JP Morgan's Dimon calls wealth gap a huge problem but defends CEO pay

Jamie Dimon, Chair and CEO of JP Morgan Chase, takes his seat to testify before the House Financial Services Commitee in Washington Wednesday April 10
JPMorgan Chase CEO Jamie Dimon prepares to testify before the House in April 10. Photo: J. Lawler Duggan/For The Washington Post via Getty Images

JPMorgan Chase CEO Jamie Dimon told CBS' "60 Minutes" in an interview broadcast Sunday that the wealth gap in the U.S. is a "huge problem."

Details: When CBS journalist Lesley Stahl asked him if the $31 million he was paid last year was too much, he replied he had "nothing to do with" the payment decision and questioned whether returning some of the money would "solve any of those problems."

MIT, Harvard professors win Nobel Prize in Economics for research on poverty

The winners of the 2019 Nobel prize in economic science.
Photo by Jonathan Nickstrand/AFP/Getty Images

Three professors who studied ways to alleviate poverty won the Nobel Prize in Economic Science on Monday, the AP reports.

Why it matters: With their research, Abhijit Banerjee and Esther Duflo, both of MIT, and Michael Kremer of Harvard introduced a new approach to addressing global poverty by dividing the issue into more manageable questions. Duflo, 46, is the youngest person and 2nd woman ever to receive a Nobel Prize in Economics.

Go deeper: Ethiopian Prime Minister Abiy Ahmed wins Nobel Peace Prize