BREAKING NEWS WATCH: A look at Highway 126 after the Holiday Farm Fire Full Story

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 5:23 PM
Updated: Nov 6, 2018 5:33 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."

Oregon Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 31865

Reported Deaths: 539
CountyConfirmedDeaths
Multnomah7022136
Marion456992
Washington441759
Umatilla293941
Clackamas234661
Malheur158926
Jackson11094
Lane109616
Deschutes79312
Yamhill75013
Jefferson5218
Polk51515
Linn49513
Morrow4946
Lincoln47613
Union4392
Benton2946
Klamath2792
Wasco2793
Hood River2490
Douglas2244
Josephine1952
Columbia1551
Coos1490
Clatsop1310
Baker922
Crook621
Tillamook510
Curry310
Lake290
Wallowa281
Sherman180
Harney120
Grant90
Gilliam80
Unassigned00
Wheeler00
Eugene
Broken Clouds
61° wxIcon
Hi: 64° Lo: 54°
Feels Like: 61°
Corvallis
Overcast
61° wxIcon
Hi: 61° Lo: 53°
Feels Like: 61°
Roseburg
Overcast
62° wxIcon
Hi: 68° Lo: 56°
Feels Like: 62°
North Bend
Overcast
63° wxIcon
Hi: 67° Lo: 57°
Feels Like: 63°
KEZI Radar
KEZI Temperatures
KEZI Planner

LATEST FORECAST

Community Events