The United States awaits a year of the strongest economic growth in decades. But also a fairly rapid tightening of monetary policy by the Federal Reserve. JP Morgan’s investment bank managing director Jamie Dimon thinks so.
“We have the strongest economic growth ahead of us we’ve ever had. By that I mean since the Great Depression,” Jamie Dimon said on the US station’s broadcast CNBC. So, according to him, the US economy will grow this year at its fastest pace in ninety years.
Dimon relies his extraordinarily optimistic estimate on the robust cash balance of American households. “They’ve never been better off, they’re already spending 25 per cent more than they did before covido,” Dimon added. He also cautioned that Americans have the best ability to pay their debts for the past 50 years.
Nor the expected interest rate hikes by the Federal Reserve will be a problem for the US economy, according to investment bank chief JP Morgan. Dimon believes that the Fed will raise rates more than four times this year, but the US economy is said to be able to absorb such increases because inflation is indeed extremely high.