Dimon acknowledges that the pandemic and the government and central-bank response to it have created a disconnect between the real economy and stock market
by Mark DeCambre
Market Watch
‘We’re in a recession, but you’re going to have a delayed effect of seeing the normal effects of recession.’ — Jamie Dimon, CEO of JPMorgan Chase & Co.
That is Jamie Dimon, CEO of JPMorgan Chase & Co. offering his view on the outlook for the economy in the aftermath of the COVID-19 pandemic.
Speaking to MSNBC’s Stephanie Ruhle in an interview that aired on Tuesday, the billionaire CEO of the nation’s largest bank by market value forecast a tough road ahead for recovery from out of the recession that Americans currently find themselves mired in.
The bank boss noted that that the pandemic and the government and central-bank response to it have created a disconnect between the real economy and stock market, with the Dow Jones Industrial Average rising on Tuesday and the S&P 500 index within a stone’s throw of its record high and the Nasdaq Composite Index having produced 32 record closing peaks already in 2020.