Jamie Dimon: ‘Booming’ US Economy, Geopolitical Tensions and the Surprising Resilience of Oil Prices.

Jamie Dimon, CEO of JPMorgan Chase, spoke about the state of the US economy during a recent interview at the Economic Club of New York. He called it “unbelievable” and remarked that it had been “booming for a while.” Despite previous concerns that interest rate increases by the Federal Reserve might trigger a recession, Dimon stated that “We’re in pretty good shape and so far it looks like that soft-landing type of scenario.” However, he added, “But put me on the cautious side of that one.”

Dimon also commented on the surprising resilience of oil prices amidst geopolitical tensions. He warned that “It doesn’t take a lot to send oil and gas prices back to $120 or higher.” Despite his reputation on Wall Street and calls for him to run for president, Dimon has resisted. Instead, he has expressed his desire for more individuals from the business community to serve in government and offered advice for the next president, suggesting they should appoint members from the opposing party to their cabinet.

Furthermore, Dimon praised Indian Prime Minister Narendra Modi for his work in India, noting the significant reduction of poverty during Modi’s time in power. Despite criticism from the liberal press in the US, Dimon commended Modi for making strides in improving India’s economic situation.