“Unemployment is extremely low, and wages are going up, particularly at the low end,” the executive wrote.
“Even if we go into a recession, consumers would enter it in far better shape than during the great financial crisis. Finally, supply chains are recovering, businesses are pretty healthy and credit losses are extremely low.”
Dimon commented only last summer that JPMorgan Chase would prepare for an imminent economic “hurricane” and said his firm would “be very conservative” with their balance sheet.
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