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JPMorgan CEO Jamie Dimon sat down with The Wall Street Journal’s editor-in-chief Matt Murray at the CEO Council Summit on Tuesday.
The CEO said he expects the US economy to boom, but warned inefficient government spending could bring the party to halt.
Dimon added that he believes the economy could find the perfect “Goldilocks” zone of strong growth coupled with mild inflation if all goes well.
He went on to say that while equity valuations across markets are high, he expects this is due to a pricing in effect of upcoming economic growth post-pandemic.
Dimon also criticized bitcoin and work-from-home policies in the half-hour interview. Here are the 8 best quotes from the head of the largest bank in the US.
“So I am not a Bitcoin supporter. I don’t really care about Bitcoin. I know I’m going to get tons of emails after this. I have no interest in it. On the other hand, clients are interested and I don’t tell clients what to do…they want to be able to put it on statements, they want to be able to buy and sell it. If we can help them do those things very, very safely with all the proper disclosures then, you know, that’s their job, it’s no my job to decide what they’re going to do with their money.”
“You are going to have a boom. And my reference to Goldilocks is more about that. If we’re lucky, it’ll be a boom and inflation will go up not too much and rates go up not too much and everything would be fine.”
“I think they’re (millennials) doing fine. I know people raise that issue, but I also tell this generation that they’re going to inherit the most prosperous nation that the world’s ever seen, because we’re not all going to be here …read more
Source:: Business Insider