JPMorgan Chase chief executive Jamie Dimon has urged caution over the likelihood of a soft landing for the US economy, despite its “unbelievable” resilience.
Speaking at the Economic Club of New York on Tuesday (23 April), Dimon said the US was "booming" after 20 years of low growth caused by "bad reasons such as regulations, bureaucracy and stupidity and forced policies". With unemployment at an all-time low, US consumers are "in good shape", he said, even if they did have to endure another recession, adding that debt service ratios were "very low". However, he said this did not alleviate all economic headwinds to a soft landing. Dimon said that even if individual wealth was higher than previous years, this did not mean they could "fight ...
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