BUSINESS CLIMATE: How JPMorgan Will Spend a Big Chunk of Its Tax Windfall. “The biggest U.S. bank is planning to open more branches, expand mortgage lending and boost pay for some employees.”

The largest U.S. bank by assets is planning to open up to 400 branches in new markets across the country, grow its home lending to lower-income consumers and boost wages for some retail-banking employees, among other changes, Chief Executive James Dimon said in an interview.

JPMorgan is one of many large companies passing its employees or clients some of the windfall of billions of dollars in expected additional profit from the tax-code overhaul enacted late last year. The bank’s effective tax rate will be about 19% this year and 20% over the near term, down from 35% previously, finance chief Marianne Lake said during an earnings call earlier in January.

“In anticipation [of tax reform], we asked our people: ’What can we do? What different things can we do to help? What can we do to accelerate our growth?’” Mr. Dimon said of the planned new investments. “This is good for the business, good for employees, [good for] wages, skills, jobs.”

FLASHBACK: If Trump thinks he can get more than 3% economic growth, he’s dreaming.

We’ll see.