1420 GMT - The U.S. consumer looks in good shape, but high consumption is driven by fiscal spending, Jamie Dimon, CEO of JPMorgan, says in an interview with WSJ Editor in Chief Emma Tucker. "The deficit is 6% of GDP, almost $2 trillion, that's driving a lot of this growth." This will potentially have inflationary consequences down the road, he says. The anticipated 'soft landing'--where inflation slows without economic recession--"may not be so soft and inflation may not quite go away as people expect." Things which "in the future are inflationary" include a huge fiscal deficit, a huge amount of QE, the green economy, the "remilitarization of the world" and geopolitics. All this "puts me on the side of caution," Dimon says. (emese.bartha@wsj.com)
(END) Dow Jones Newswires
April 25, 2024 10:20 ET (14:20 GMT)
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