JPMorgan Chase CEO Changes His Tune About The Economy

  • “Unemployment is extremely low, and wages are going up, particularly at the low end,” the executive wrote.
  • “Even if we go into a recession, consumers would enter it in far better shape than during the great financial crisis. Finally, supply chains are recovering, businesses are pretty healthy and credit losses are extremely low.”
  • Dimon commented only last summer that JPMorgan Chase would prepare for an imminent economic “hurricane” and said his firm would “be very conservative” with their balance sheet.
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