Wednesday, May 9, 2018

Jamie Dimon Puts 'Likelihood of Recession at 100% — Obviously'

Jamie Dimon, the CEO of JPMorgan Chase & Co., during a recent interview with Bloomberg TV said, "Someone asked me once, What’s the odds of a recession? I said it’s 100%."

But then he added, “Right now,“the American economy in a very broad-based way is strong.”

In other words, it's all about timing and Dimon like the EPJ Daily Alert doesn't see one in the immediate future. The Austrian-lites,  who expected a recession way back in 2015 after the first rate hike since the 2008 financial crisis, have been way off on this one.

The stock market looks shaky right now but the economy overall is fine at present and the earliest I am likely to chnage my mind on it is late summer, though that is far from a certainty.

-Robert Wenzel  

1 comment: