And the CEO who once called for the US to raise taxes on the rich and adopt more explicitly socialist policies to expand access to higher education, housing and child care, praised the federal government's response to the economic crisis caused by the COVID pandemic. Consumers who are now flush with savings will help drive an economic boom, Dimon wrote in his 34K-word missive.
"I have little doubt that with excess savings, new stimulus savings, huge deficit spending, more QE, a new potential infrastructure bill, a successful vaccine and euphoria around the end of the pandemic, the US economy will likely boom," Dimon said.
"This boom could easily run into 2023 because all the spending could extend well into 2023."
BREAKING: In Jamie Dimon's annual shareholder letter he is very optimistic in the U.S. economy
"This boom could easily run into 2023 because all the spending could extend well into 2023." pic.twitter.com/1Qt2TDWa8C
— Squawk Box (@SquawkCNBC) April 7, 2021