Behind the Economy … Jimmy Dimon predicts a boom in the US economy

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Emirates News Emirates News Today: Behind the economy .. Jimmy Dimon expects the prosperity of the US economy Source of the news – Emirates News Today with details of the news behind the economy .. Jimmy Dimon expects the prosperity of the US economy:

Emirates News Today In his message to “Wall Street”, CEO of JP Morgan, Jimmy Dimon, expected the American economy to thrive, writing in the letter that “a combination of individual savings, spending that causes budget deficits, and the success of a distribution plan.” Vaccines, as well as a sense of joy due to the end of the pandemic, are all factors that could lead to an economic boom that could easily last until 2023. ”

Dimon said that “these expectations can be justified by the high valuations of stocks, and the possibility that the high rate of inflation is not temporary, forcing the Federal Reserve to raise interest rates strongly.”

He explained that “raising prices quickly to compensate for the state of the economy is a typical cause of recession, but at the same time he expressed his hope for a rapid growth of the economy, and a gentle increase in the rate of inflation, with a calculated rise in interest rates.”

Dimon pointed to the role that banks are playing increasingly in the financial system now, stressing the importance of financial technology companies and technology companies such as “Amazon”, “Apple”, “Facebook” and “Google” subject to stricter regulation.

He added, “China’s leaders believe that America is in a state of decline, but the truth is that the United States has faced difficult times before,” noting that “the Chinese see America losing its power in technology, infrastructure and education, and that it is a nation torn apart by politics and paralyzed.”

On climate change, Dimon said: “The solution to the climate problem is not by moving away from fossil fuels. Addressing climate change does not mean giving up companies that produce and use fossil fuels, but we must work with them to reduce their environmental impact.”

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