‘This boom could easily run into 2023’ says JPMorgan’s Dimon

JPMorgan’s chief Dimon said in his annual letter to shareholders that the US economic rebound could last at least two years.

Jamie Dimon said he’s optimistic the pandemic will end with a U.S. economic rebound that could last at least two years. “I have little doubt that with excess savings, new stimulus savings, huge deficit spending, more QE, a new potential infrastructure bill, a successful vaccine and euphoria around the end of the pandemic, the U.S. economy will likely boom,” the JPMorgan Chase & Co. chief executive officer said Wednesday in his annual letter to shareholders. “This boom could easily run into 2023.” Unprecedented federal rescue programs have blunted unemployment and averted further economic deterioration, according to Dimon, who said banks entered the crisis strong and able to help communities weather the storm. While lenders also benefited from U.S. stimulus, they built up buffers against future loan losses and performed well in stress tests, he said.