Roula Khalaf, the editor of the Financial Times, curates her top picks in this weekly newsletter. In a recent interview with the Economic Club of New York, JPMorgan Chase chief executive Jamie Dimon discussed his views on the state of the US economy.
Dimon described the US economy as “unbelievable” and noted that it had been “booming for a while.” Despite previous concerns about interest rate increases by the Federal Reserve potentially leading to a recession, Dimon stated that he believed they were in good shape and that a soft landing was likely. However, he cautioned that it could still be risky.
In his Wall Street days, Dimon often referred to a saying suggesting that ‘the markets will do whatever they have to do to hurt the most people,’ which made him wary of potential market fluctuations. He also commented on how oil prices had remained surprisingly resilient amidst geopolitical tensions, but warned that it wouldn’t take much to send them back up again.
Dimon has been hesitant about running for president, but he has expressed his desire for more business leaders to be involved in government decision-making. He advised incoming presidents to appoint members from both parties to their cabinet in order to create a more balanced approach to policymaking. Additionally, Dimon praised Indian Prime Minister Narendra Modi’s efforts in reducing poverty during his time in office, despite criticism from liberal press in the US.
