Banking leaders — from the IMF to Jamie Dimon — are ringing alarm bells loud and clear.
The disconnect between much of theUp until recently, many consumers seemed to be happily spending away.
“Consumers have money,” he said. “Fiscal stimulus, they still have more than they had before. They’re spending 10 percent more than last year, 35 percent more than pre-COVID-19. Their balance sheets are in great shape…even if we go into recession, they’re going to be in better shape than in ‘08 and ‘09. Companies are in good shape.
Dimon did have one guarantee — that the markets would be volatile. So far, the market has been down, but functioning. “Disorderly” here is a bit of a euphemism for a market on the run and not really functioning properly.
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