J.P. Morgan Chase & Co. CEO Jamie Dimon said he isnt expecting any potholes ahead that could disrupt what has been a stellar run for the stock market and the economy.
I dont see any potholes. Jamie Dimon, CEO J.P. Morgan Chase & Co.
Speaking on CNBC during the World Economic Forum in Davos, Switzerland, the head of the worlds biggest bank by assets said that although he acknowledges he may not be able to see the potholes, that are actually there, he believes that pro-growth policies have positioned the economy and the market for success.
Those policies follow a decadelong period of sluggishness that has been supported by the Federal Reserve and global central banks since the financial crisis brought much of the world-wide economy to its knees in 2007-08, he said.
We cant believe that we are doing so well. Its been a long 10 years, Dimon said.
Of course, the bank boss said rising interest rates, among other factors, could be impediments. But he saw few reasons that could upend what is viewed as an upbeat economic growth trajectory.
On Tuesday, the S&P 500 index
noted its 12th all-time closing record, marking the most record finishes for the broad-market benchmark, surpassing the 11 logged in January in 1964, according to WSJ Market Data Group.
Overall, the S&P 500 is up 6.2% so far in January, while the Dow Jones Industrial Average
boasts a gain of about of more than 6% and the Nasdaq Composite Index