JPMorgan CEO Jamie Dimon spoke in an interview on CNBC on Tuesday US time.
Said:
- Businesses are still in good shape
- consumer spending remains strong, with households hoarding $1.5 trillion in excess savings from pandemic relief programs,
But, he says that may not last long:
- "Inflation is eroding everything I just said, and that $1.5 trillion will run out sometime mid-year next year,"
- "When you are looking that forward, those things very well may derail the economy and cause this mild to severe recession that people are worried about."
Full text is here: CNBC Transcript
---
Earlier post from another big wig:
---
