In his recent interview with Newsmakers, Jamie Dimon explained why this is not a normal recession. Here’s an excerpt from the interview:
Host: You just mentioned all the other signs of strength in the economy, where do you fall in this debate about whether we’re in a recession or shortly going to be in one?
Dimon: I mean, I hate this binary thing about recession, their jobs are plentiful, people spending money, people still going back to work, it’s hard to call that a recession.
A lot of these numbers are highly distorted by coming out of Covid, by inflation itself, so the inflation adjustment itself makes the number come way down.
So if it is a recession it’s not what I call a normal recession. Doesn’t mean we won’t have a real one down the road. I wouldn’t call this a normal recession right now.
You can watch the entire discussion here:
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