Still have your stimmy?
https://www.ibtimes.co.uk/jp-morgan-ceo-americans-are-good-shape-financially-still-have-money-covid-1724525
JP Morgan CEO Jamie Dimon has been widely criticised for suggesting that average Americans are doing well financially despite rising inflation and stagnant interest rates putting a strain on household budgets.
Dimon sparked outrage with comments on The Wall Street Journal podcast, "The Journal." Dimon, whose
net worth is estimated at 1.67
billion
($2.1 billion) by Forbes, stated that consumers "still have excess money from COVID."
Downplaying concerns about the economic impact on everyday Americans, Dimon told interviewer Emma Tucker, "The consumer's in pretty good shape right now." However, last month, Dimon himself predicted inflation would stay high, potentially harming the US economy in the near term.
"The consumer has, you know, unemployment under 4 percent has been there for two years.
They still have excess money from COVID
," Dimon told the podcast. He further noted that the US spent a whopping 4.78 trillion ($6 trillion) during the unprecedented pandemic.
"Through various means and various programs, they're still spending it down," he noted. Dimon went on to claim that "housing prices are up, stock prices are up, and jobs are plentiful." Unsurprisingly, he has been catching flak for those comments.