Jamie Dimon Says While Growth Is Strong, Recession Possible by 2020

(Bloomberg) -- While the U.S. economy is leading a global resurgence, the prospect of a recession as soon as 2020 can’t be ruled out, JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said.

“The consumer balance sheet is in good shape, corporations are in good shape. That may very well continue,” Dimon said Thursday in an interview with Axios in Columbus, Ohio. Asked when the economy might start to contract, he said “that may very well happen in 2020, 2021.”

Other Dimon comments:

• Tariffs should be viewed as a tool the administration is using to achieve legitimate trade goals. “I wouldn’t have gone about it that way,” Dimon said.
• The impact of blockchain technology has been overblown.
• Proposals to split up big banks are “pipe dreams,” he said, declining to comment further on prospects for the idea.

To contact the reporter on this story: Michelle F. Davis in New York at mdavis194@bloomberg.net

To contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, Steve Dickson, Daniel Taub

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