JPMorgan Chase & Co Chief Executive Jamie Dimon said the economic recovery from the coronavirus recession could be derailed by a lack of additional economic stimulus, the election, and a second wave of infections.
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Dimon made the comments on Friday to stock analyst Brian Kleinhanzl of Keefe, Bruyette & Woods, who wrote about their meeting in a report.
Dimon added that earlier government stimulus had delayed the full effects of the recession. As it hits, customers who have borrowed from the banks will feel the impact, the note said.
Consumers are spending less. “Based on their data it is unclear if that trend is getting better or worse,” Kleinhanzl wrote.
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JPMorgan is the largest U.S. bank by