25 June 2019

Economy Is Strong But Recession Coming

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J.P. Morgan Chase Chairman and CEO Jamie Dimon thinks the U.S. economy is doing well for now.

"America looks pretty good. ... It looks like this [economic growth] may have legs to go. Maybe a year, maybe two, maybe more," Dimon said in an interview Monday on Bloomberg Television from Beijing.

Dimon cited the strong job numbers, the lower level of leverage in the financial system, and consumer and bank liquidity as positive signs for growth. He noted the shortage in housing supply, which will likely lead to more economic activity. Dimon said economic growth in other countries in Asia and Europe is improving.

But he also cautioned that the good times will not last forever.

"Someone asked me once, what's the odds of a recession? I said it's 100 percent. But the question is when. Right now the American economy in a very broad-based way is strong," he said.

On another matter, Dimon is optimistic that trade negotiations between the U.S. and China will have a positive outcome.

"Make it a win-win for everybody. I think it's achievable," he said.

 Click here for the original article from CNBC.

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