JAMIE Dimon was recently asked: “If you had to describe the US economy, how resilient is it?” His answer was unequivocal: “Basically, it’s booming.” It was the first time the chairman and chief executive officer of JPMorgan Chase & Co uttered such a superlative since he became the head of the world’s largest bank almost two decades ago.
“If you look at the economy” before the Covid-19 pandemic “it was very low growth for 20 years”, he told the Economic Club of New York on Apr 23. “But if you look at the economy since then, it’s been booming. Unemployment hit an all-time low; it’s been under 4 per cent now for the better part of two or three years.” That’s a sustained...
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