Jamie Dimon: US economy is doing fine

JPMorgan Chase CEO Jamie Dimon tells CNN's Christiane Amanpour that the economy going into 2019 is very strong but that concerns like Brexit and trade are affecting confidence.

Posted: Nov 6, 2018 8:13 PM
Updated: Nov 6, 2018 8:33 PM

Jamie Dimon thinks the US economy is doing just fine -- and it could get even better.

The chairman and CEO of JPMorgan Chase, (JPM) the nation's largest bank, disagrees with economists predicting an imminent recession. Some believe the economy will turn south because of a trade war with China and rising interest rates.

"There will be another recession. It doesn't mean it has to be early in 2019. It may very well be 2020, 2021," he said in an interview from Paris with CNN's Christina Amanpour. "The American economy is still doing quite well. And it may very well be accelerating. Unemployment is going to hit probably a post-war low sometime in the next 12 months."

Unemployment remained at 3.7% according to a government report released Friday. That matches a 49-year low.

Dimon was in France to announce a $30 million investment into Seine-Saint-Denis, one of France's poorest districts. He aid global stock markets would be hurt by issues like a trade war between the United States and China and Brexit in Europe. But the economy itself is strong enough that it "may not be derailed by a little bit of short term negative news."

President Donald Trump deserves some of the credit for the economic growth, Dimon said. He pointed to the administration's moves to lower corporate taxes and eliminate regulations.

But the bank chief said he doesn't like Trump's approach to dealing with China, particularly the threat and use of tariffs. Dimon agrees, however, that issues need to be negotiated with China.

"I would prefer private negotiations. I hope that president's strategy works, particularly with China," he said.

Dimon said he regrets getting into a spat with Trump when he said earlier this year that "I think I could beat Trump. I'm as tough as he is, I'm smarter than he is. I would be fine. He could punch me all he wants, it wouldn't work with me. I'd fight right back."

Trump responded with tweets criticizing Dimon, saying he didn't have the smarts to be president. Dimon told Amanpour that making the claim he did was a mistake.

"I wish I hadn't said it," he said. "I don't want to be involved in macho tit for tat with anyone. I want to be serious about policy. I regret having said it. That was me acting like a child."

Indiana Coronavirus Cases

Data is updated nightly.

Cases: 614946

Reported Deaths: 9807
CountyCasesDeaths
Marion849231342
Lake45784693
Allen33103560
Hamilton29752316
St. Joseph27572383
Elkhart24496346
Vanderburgh19679255
Tippecanoe18150144
Johnson15234296
Porter14970172
Hendricks14550253
Madison11071223
Clark10852145
Vigo10819185
Monroe9496115
Delaware9193136
LaPorte9173164
Howard8325148
Kosciusko811485
Warrick683399
Hancock6783106
Bartholomew6659100
Floyd6522113
Wayne6194164
Grant6050118
Dubois559081
Boone557968
Morgan551996
Henry512365
Marshall507884
Dearborn488745
Cass487864
Noble476159
Jackson428747
Shelby423381
Lawrence395180
Clinton375845
Gibson375560
Harrison354046
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Montgomery349754
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Greene242763
Posey241828
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Scott227939
Clay225032
Randolph215848
Jennings200937
Spencer193622
Sullivan193633
Washington189023
Fountain185227
Starke177044
Jay168723
Owen168338
Fulton165430
Orange161035
Carroll160616
Rush156418
Perry156129
Vermillion150034
Franklin149933
Tipton134433
Parke13098
Pike118826
Blackford112023
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Brown88835
Benton87110
Crawford8099
Martin75013
Warren6867
Switzerland6695
Union6297
Ohio4967
Unassigned0375

Ohio Coronavirus Cases

Data is updated nightly.

Cases: 872918

Reported Deaths: 10856
CountyCasesDeaths
Franklin102616707
Cuyahoga868931154
Hamilton65148455
Montgomery43662420
Summit35411766
Lucas31794634
Butler31451232
Stark26247445
Warren19939144
Lorain19378229
Mahoning17561339
Lake16350161
Clermont16235113
Delaware1463881
Licking13453142
Fairfield1301782
Trumbull12980317
Greene12226144
Medina11798169
Clark11094266
Wood10507158
Allen10031128
Portage9514111
Richland9275134
Miami927273
Marion7512113
Tuscarawas7455186
Columbiana7433124
Pickaway735250
Muskingum714042
Wayne7140172
Erie6253130
Ross5589100
Hancock556292
Scioto545365
Geauga518955
Darke474395
Lawrence464658
Union459130
Ashtabula457973
Sandusky440462
Huron435541
Mercer435590
Seneca435366
Auglaize425166
Belmont423948
Jefferson423969
Shelby422923
Washington396340
Athens38619
Putnam379276
Madison359930
Knox358423
Ashland349638
Fulton341744
Defiance336188
Crawford327274
Preble323637
Brown318821
Logan314835
Ottawa297443
Clinton293944
Highland282219
Williams282267
Jackson266145
Guernsey259326
Champaign254628
Fayette241030
Morrow23594
Perry235518
Holmes227274
Henry222954
Hardin217033
Coshocton208023
Van Wert204445
Gallia200126
Wyandot198151
Pike180918
Adams179815
Hocking174024
Carroll158216
Paulding145521
Noble121040
Meigs110324
Monroe103433
Harrison89821
Morgan84531
Vinton71714
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