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Dimon: Solve fiscal cliff, U.S. economy will soar

The Buzz - Investment and Stock Market News

JPMorgan (JPM) CEO Jamie Dimon says the U.S. economy is poised to boom if Washington lawmakers can strike a deal to avoid the fiscal cliff.

But of course, that’s a really big “if.”

“I don’t know the odds,” said Dimon, speaking at a conference Wednesday hosted by The New York Times’ Dealbook. “We could go off the fiscal cliff, and it may not be as big of a deal as people think, but it might be, so why would you take that chance?”

Dimon thinks lawmakers will probably take their wrangling down to the final minutes but will ultimately come to a resolution.

Related: Perils of going over the cliff temporarily

And if they do, the United States could have “a booming economy in a couple months,” said Dimon.

That would mean economic growth around 4%, rather than 2%, and job gains north of 200,000 a month…

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About Nicholas Maithya

I am a writer focussing on disruptive technology, Fintech, Big Data and Internet of Things, Online Marketing trends, and investments. When I am not writing about these, I am probably in the gym working out, out and about with family, watching the news (basically business/technology) or soccer. That's why I do sometimes cover soccer-related stories.

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