{"id":221867,"date":"2021-04-07T17:01:10","date_gmt":"2021-04-07T14:01:10","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/jamie-dimon-says-post-covid-boom-will-stretch-into-2023\/"},"modified":"2021-04-07T17:01:10","modified_gmt":"2021-04-07T14:01:10","slug":"jamie-dimon-says-post-covid-boom-will-stretch-into-2023","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/jamie-dimon-says-post-covid-boom-will-stretch-into-2023\/","title":{"rendered":"#Jamie Dimon says post-COVID boom will stretch into 2023"},"content":{"rendered":"

“#Jamie Dimon says post-COVID boom will stretch into 2023<\/strong>”<\/p>\n

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JPMorgan Chase CEO Jamie Dimon thinks the US economy is poised to come roaring back from the coronavirus crisis over the next two years.<\/p>\n

In his annual letter to shareholders<\/a>, America\u2019s most famous banker said hefty government spending and consumers\u2019 pent-up savings have primed the nation for an economic explosion that will likely stretch into 2023.<\/p>\n

\u201cI have little doubt that with excess savings, new stimulus savings, huge deficit spending, more [quantitative easing], a new potential infrastructure bill, a successful vaccine and euphoria around the end of the pandemic, the US economy will likely boom,\u201d Dimon wrote in the 66-page letter released Wednesday.<\/p>\n

\u201cThis boom could easily run into 2023 because all the spending could extend well into 2023.\u201d<\/p>\n

Dimon said the feds\u2019 aggressive response to the pandemic-induced downturn would produce much stronger growth than that seen in the years after the Great Recession that he led JPMorgan through.<\/p>\n

\"Tourists
Tourists gather on a fountain outside a JPMorgan Chase branch in Manhattan.<\/figcaption>
Smith Collection\/Gado\/Getty Images<\/span><\/figcaption><\/figure>\n

The Federal Reserve\u2019s quantitative easing \u2014 the central bank\u2019s practice of buying up assets that\u2019s also known as QE \u2014 and the government\u2019s massive deficit spending are \u201cof a completely different magnitude\u201d than the response to the last economic crisis, he said.<\/p>\n

But the long-term effects of the coming boom won\u2019t be known until the quality and effectiveness of the government\u2019s historic investments become clear, according to Dimon.<\/p>\n

\"The
The main entrance at JPMorgan Chase headquarters seen in New York City.<\/figcaption>
Erik McGregor\/LightRocket via Getty Images<\/span><\/figcaption><\/figure>\n

\u201cI hope there is extraordinary discipline on how all of this money is spent,\u201d he wrote. \u201cSpent wisely, it will create more economic opportunity for everyone.\u201d<\/p>\n

Dimon\u2019s letter struck a much more optimistic tone than last year\u2019s missive, which predicted that COVID-related lockdowns and soaring unemployment would plunge the US into a \u201cbad recession.\u201d<\/p>\n

Economic data proved him right, with gross domestic product suffering its worst contraction since the Great Depression and unemployment reaching its highest level on record.<\/p>\n

\"Joe
Joe Biden, Vice President Kamala Harris and Secretary of the Treasury, Janet Yellen meet with business leaders about the critical need for the American Rescue Plan in the Oval Office at the White House in Washington, D.C., on Feb. 9. <\/figcaption>
Pete Marovich-Pool\/Getty Images<\/span><\/figcaption><\/figure>\n

GDP and employment have since recouped some of those losses, and economists contend the recovery will speed up in the coming months as more Americans get vaccinated and start spending more money.<\/p>\n

\u201cWe have the resources to emerge from this latest economic crisis as a stronger country,\u201d wrote Dimon, who went through emergency heart surgery at the onset of the COVID crisis last year.\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Jamie Dimon says post-COVID boom will stretch into 2023” JPMorgan Chase CEO Jamie Dimon thinks the US economy is poised to come roaring back from the coronavirus crisis over the next two years. In his annual letter to shareholders, America\u2019s most famous banker said hefty government spending and consumers\u2019 pent-up savings have primed the nation…<\/p>\n","protected":false},"author":1,"featured_media":221868,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/04\/jamie-diamon-eco.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[101106,71939,11154,1545,70791,70792,70360],"class_list":["post-221867","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-4-7-21","tag-banks","tag-ceos","tag-coronavirus","tag-jamie-dimon","tag-jpmorgan-chase","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/221867","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=221867"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/221867\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/221868"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=221867"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=221867"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=221867"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}