Dimon of JPMorgan Chase said that supply chain problems will soon ease, indicating that consumer demand is unusually strong

Read Time:1 Minute, 33 Second

JPMorgan Chase CEO Jamie Dimon (Jamie Dimon) delivered a speech at the inauguration of the new headquarters of JPMorgan Chase in Paris on June 29, 2021.

Michelle Euler | AFP | Getty Images

JPMorgan Chase CEO Jamie Dimon said on Monday that global supply chain problems caused by the coronavirus are hindering economic growth, but the problems will be fleeting.

“I should never do this, but I will make predictions,” Dimon said at a conference held by the Institute of International Finance. “This will not be a problem at all next year. This is the worst part of it. I think the great market system will adjust like a company.”

The pandemic has exposed how the global supply system is interconnected. For example, the shortage of semiconductor chips hinders manufacturers of automobiles and electronic products. The lack of willing workers has caused container ships to lie idle in major ports and delay delivery of goods to retailers.

Although some experts believe that some of the pain will last until 2023, Dimon is more optimistic. He said on Monday that he believes the economy is ready for growth in the next few years. He said that part of the reason lies in the strength of consumers.

“Remember, consumers are buying other things,” Dimon said. “They can’t buy cars, they want buyers to install them; they can’t travel abroad, they can only travel domestically. The level of consumption is very high.”

He added: “Because of the extraordinary power of consumers, they spend 20% more than before Covid.” “And the company is in good condition, they can continue to spend at these levels for a long time.”

Dimon said that supply chain disruption may ultimately only extend the recovery time, rather than derail it.

If you want to know more about business please go to https://updatednews24.com/category/business/

Happy
Happy
0 %
Sad
Sad
0 %
Excited
Excited
0 %
Sleepy
Sleepy
0 %
Angry
Angry
0 %
Surprise
Surprise
0 %
We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners. View more
Cookies settings
Accept
Decline
Privacy & Cookie policy
Privacy & Cookies policy
Cookie name Active

Who we are

Suggested text: Our website address is: https://updatednews24.com.

Comments

Suggested text: When visitors leave comments on the site we collect the data shown in the comments form, and also the visitor’s IP address and browser user agent string to help spam detection. An anonymized string created from your email address (also called a hash) may be provided to the Gravatar service to see if you are using it. The Gravatar service privacy policy is available here: https://automattic.com/privacy/. After approval of your comment, your profile picture is visible to the public in the context of your comment.

Media

Suggested text: If you upload images to the website, you should avoid uploading images with embedded location data (EXIF GPS) included. Visitors to the website can download and extract any location data from images on the website.

Cookies

Suggested text: If you leave a comment on our site you may opt-in to saving your name, email address and website in cookies. These are for your convenience so that you do not have to fill in your details again when you leave another comment. These cookies will last for one year. If you visit our login page, we will set a temporary cookie to determine if your browser accepts cookies. This cookie contains no personal data and is discarded when you close your browser. When you log in, we will also set up several cookies to save your login information and your screen display choices. Login cookies last for two days, and screen options cookies last for a year. If you select "Remember Me", your login will persist for two weeks. If you log out of your account, the login cookies will be removed. If you edit or publish an article, an additional cookie will be saved in your browser. This cookie includes no personal data and simply indicates the post ID of the article you just edited. It expires after 1 day.

Embedded content from other websites

Suggested text: Articles on this site may include embedded content (e.g. videos, images, articles, etc.). Embedded content from other websites behaves in the exact same way as if the visitor has visited the other website. These websites may collect data about you, use cookies, embed additional third-party tracking, and monitor your interaction with that embedded content, including tracking your interaction with the embedded content if you have an account and are logged in to that website.

Who we share your data with

Suggested text: If you request a password reset, your IP address will be included in the reset email.

How long we retain your data

Suggested text: If you leave a comment, the comment and its metadata are retained indefinitely. This is so we can recognize and approve any follow-up comments automatically instead of holding them in a moderation queue. For users that register on our website (if any), we also store the personal information they provide in their user profile. All users can see, edit, or delete their personal information at any time (except they cannot change their username). Website administrators can also see and edit that information.

What rights you have over your data

Suggested text: If you have an account on this site, or have left comments, you can request to receive an exported file of the personal data we hold about you, including any data you have provided to us. You can also request that we erase any personal data we hold about you. This does not include any data we are obliged to keep for administrative, legal, or security purposes.

Where we send your data

Suggested text: Visitor comments may be checked through an automated spam detection service.
Save settings
Cookies settings