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JPMorgan’s Jamie Dimon: US economy will ‘blow people’s socks off’

To put it mildly, Jamie Dimon is bullish on the US economy. The JPMorgan Chase CEO says the US economy is the strongest in the world and is about to get even better – and we can thank the domestic oil and gas industry for its significant contributions to our economic outlook.

“This country has ... the best universities and businesses, low corruption, the widest and deepest capital markets, is hugely innovative and has a wonderful work ethic,” he recently told CNBC.

Dimon says he’s looking at the big picture and isn’t concerned about weekly, monthly, or even quarterly reports showing slow economic growth or some experts’ predictions of gloom and doom.

“We’ve got a world-trade flush,” he quipped.  

“We don’t have a divine right to success. But we have an unbelievable hand. If we play it well, and now we've got natural gas and shale oil, we have a gift from God here. America’s going to come back, and it’s going to blow people’s socks off when it does.”

That doesn’t mean there won’t be some turbulence along the way, as the Federal Reserve exits its massive easing program, Dimon stressed.

“In the process of normalization, you’re going to have some volatility. You're going to have rates go up,” he noted. “I’m not talking about next month, but over the next couple of years. ... I don’t know why anyone should be surprised by that.”



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