Jamie Dimon, the head of J. P. Morgan Chase, predicts four-percent growth in the U.S. economy.
I’m not sure what to think of this report that Jamie Dimon thinks we are going to experience four percent growth in the economy. Much of the interview sounded like he was lobbying the government to give us another unsustainable housing bubble.
I associate Jamie Dimon with the Wall Street bailout, a horrible injustice. But I hope his prediction of four-percent growth comes true.
MarketWatch reports, “Dimon thinks economists are dead wrong about GDP, predicts 4% U.S. growth.”
Speaking during an interview with Fox Business’s Maria Bartiromo on Tuesday, Dimon said the recently signed tax legislation, which cuts the corporate tax rate to 21% from 35%, is likely to support higher levels for the Dow Jones Industrial Average DJIA, +0.36% the S&P 500 index SPX, +0.18% and the Nasdaq Composite Index COMP, +0.05% which have already rung up all-time highs in first several sessions of 2018, after a record-setting rally for the equity benchmarks last year.
Dimon said he expects the “competitive tax rate” to encourage deal-making on Wall Street, pointing to Europe which he said is on pace to grow at a 3% rate. A reading of gross domestic product is slated for Jan. 26.
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