Jamie Dimon, CEO of largest US bank, optimistic about economy despite recession fears: 'Positives are huge'
Too much focus on economic risks 'begins to cloud your judgment,' JPMorgan Chase CEO Jamie Dimon said. A crippled banking system, stubbornly high inflation, recession fears -- the growing set of threats has tipped the U.S. into precarious economic territory but the leader of the nation's largest bank is nonetheless optimistic about the financial outlook. Resilient consumer spending and a strong job market have buoyed the economy, padding the savings of many households and buttressing them against a possible downturn, Jamie Dimon, the CEO of JPMorgan Chase, said in an annual shareholder letter on Tuesday. "When one talks about risk for too long, it begins to cloud your judgment," Dimon said. "Looking ahead, the positives are huge." Consumer balance sheets are in "great shape," Dimon added, noting that "unemployment is extremely low, and wages are going up, particularly at the low end." The unemployment rate stands at 3.6%, hovering n...