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JP  Morgan praised the economy's resilience, predicting a soft landing

JP Morgan praised the economy's resilience, predicting a soft landing

CEO of JP Morgan Chase, Jamie Dimon, congratulated on Monday, “Leadership” And the recession of the US economy, according to him, is headed for a soft landing.

Despite a volatile environment, particularly last year's regional banking crisis, the US economy remains resilient”, he pointed out in his annual letter to shareholders.

He noted that consumers continue to spend at a time when markets expect the US economy to have a soft landing after rising inflation.

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However, the outgoing CEO of the largest US investment bank cited US government spending, quantitative easing and the wars in Ukraine and the Middle East as factors.Potential disruption“To the world's largest economy.” These important and unprecedented elements encourage us to be cautious” , he said.

Jamie Dimon also warned that the cost of money in the US could rise 8% or more in the coming years, while record budget deficits and geopolitical tensions will complicate the fight against inflation.

Massive public spending, the trillions of dollars needed each year for a green economy, the remilitarization of the world and the restructuring of global trade are all inflationary factors.“, he explained.

Dimon, who took control of Bank of America in 2006, is part of a group of financial CEOs for key economic positions within the federal government. If former President Donald Trump wins the next presidential election, JPMorgan's boss will be among the candidates for Treasury secretary, according to the Wall Street Journal.

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