JPMorgan Chase CEO Jamie Dimon says recession is coming, but not soon
WASHINGTON -- Only on "CBS Evening News," anchor Jeff Glor talks to Jamie Dimon, chairman and CEO of JPMorgan Chase, about his plans for an expansion in the Washington, D.C., area. They also discussed the state of the economy, and the possibility of another recession.
Jeff Glor: You don't think a recession happens later this year, next year. You think it's got a while to go.
Jamie Dimon: I hate to forecast things like that. We will eventually have another recession. I do not know what will cause it. I don't think it's gonna happen this year and maybe not early next year. There are too many signs of growth. The rest of the world is growing faster. The-- the tax reform is helping. Regulatory reform is helping. Wages are going up. More people are coming back into the workforce. Housing's in short supply. Household formation is going up. Everything you look at is pretty good. It's hard to say, 'cause it's been a long time since it's been that way. So it's kind of-- you get scared when you say it. But it is true. And therefore, you can have a pretty good, good year or so.
Glor: A lotta folks are saying still -- things still looked pretty good in 2006, 2007, when in fact, they weren't.
Dimon: Yeah. But you gotta analyze the facts.
In the wide-ranging interview, Dimon also weighed in on the Trump administration and its ongoing discussions with North Korea. He also discussed how tax reform is affecting JPMorgan Chase, which reported their biggest-ever profit when they announced earnings on April 13.
You can watch the full interview Wednesday, April 18, on "CBS Evening News" at 6:30 p.m. ET. More will be on "CBS This Morning," Thursday, April 19.