REUTERS/Dylan Martinez/File PhotoNEW YORK (Reuters) - JPMorgan Chase & Co Chief Executive Officer Jamie Dimon said on Wednesday the United States could be in store for an economic boom through 2023 if more adults get vaccinated and federal spending continues.
The average U.S. consumer’s finances are in “excellent shape,” Dimon said, and the stock market’s high valuations are justified.
The economic growth Dimon projects the United States could see in the next two years will create opportunities to “deal with issues stemming from inequality,” Dimon wrote.
Dimon, who has called for higher taxes to pay for federal stimulus, said corporations could support many of these initiatives if the government adopted rigorous budgeting, transparency and discipline when it comes to its spending.
“We must remember that the concepts of free enterprise, rugged individualism and entrepreneurship are not incompatible with meaningful safety nets and the desire to lift up our disadvantaged citizens,” Dimon wrote.
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