Jamie Dimon View of the Economy
On April 23, I attended the Economic Club of NY and listened to JPMorgan Chase CEO, #JamieDimon discuss economic issues in the U.S. economy for 2024. He was interviewed by #MarieJoseeKravis, chair emerita of the #EconomicClubofNew York. Here is a short summary of his remarks.
In his comments he was bullish on a “robust” U.S. economy and mentioned the low unemployment and positive consumer financial environment, housing prices for owners, However, he pointed out the problems with increasing U.S. debt and concerns that inflation might endure longer than expected keeping interest rates higher. He mentioned concern over government spending. He pointed out threats to commodities markets and movement of people due to the continued conflicts in the Middle East and Ukraine.
Dimon observed, the U.S. government would benefit from more “practitioners.” He said he’d like to see the next president populate the cabinet with members of the other party. He promoted putting people with practical, business experience at the table, hopefully reducing political polarization. “I want the next president, whoever it is, to put the other party (members) in their cabinet. That is what I would like to see. I would like to see practitioners go back to the government.” He said he was “very excited” about the future.
His remarks and conversation were very well received. Personal ancedotes from my table mates who know him were very favorable. He is much admired.
For a more detailed commentary on the economic future read his annual report to JPMorgan shareholders:
https://reports.jpmorganchase.com/investor-relations/2023/ar-ceo-letters.htm