Dimon Sees Good Chance for a Rapid U.S. Economic Recovery
- JPMorgan CEO says unemployment could drop to 10% by year-end
- Banks might not need to boost reserves in second half, he says
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Jamie Dimon sees “pretty good odds” of a fast economic rebound starting in the third quarter thanks to the U.S. government’s stimulus programs and the strength of the consumer going into the pandemic.
“You could see a fairly rapid recovery,” the JPMorgan Chase & Co. chief executive officer said Tuesday at a virtual conference hosted by Deutsche Bank AG. “The government has been pretty responsive, large companies have the wherewithal, hopefully we’re keeping the small ones alive.”