JP Morgan Chair Bullish on a US Recession

JP Morgan Chair Bullish on a US Recession

An international recession is going through the minds of many people but the chairman of JP Morgan Chase has other things on his mind. Dimon has quite a positive outlook on the state of the US economy.

Speaking at the Business Roundtable, the JP Morgan chair has said that his gut feeling is that the economy for America isn’t going to take a turn for the worse at all.

"There will be a recession again. My own gut tells me it’s not imminent.”

For those that don’t know, “the Business Roundtable is a non-profit association based in Washington, D.C. whose members are chief executive officers of major U.S. companies.”

Now granted, trusting a feeling in your gut can sometimes pay off with certain things, but when it comes big things like the US economy there isn’t much reason as to why we should trust Dimon’s belly...

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In the past, the entrepreneur has given reasons for being so bullish on certain things. Explaining earlier this year that the United States post-recession ten-year-long expansion can go on for as long as it wants, Dimon said:

“If you look at the American economy, the consumer is in good shape, balance sheets are in good shape, people are going back to the workforce, companies have plenty of capital. It could go on for years. There’s no law that says it has to stop.”

The well-known bitcoin naysayer may be positive on the economies future, but last month the president used the word whilst sparking fear into the American hearts.

As previously reported by CryptoDaily:

“The consensus of most analysts outlooks on the matter is that there won’t be a recession in the United States this year or next, but with everything going on in the US at the minute, who knows what will happen.”

It will be interesting to see how this plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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