JPMorgan Chase CEO Jamie Dimon expressed confidence in a robust U.S. economy backed by strong employment and healthy consumer finances.

The U.S. economic boom is "unbelievable," Dimon said at an Economic Club of New York event on Tuesday. "Even if we go into recession, the consumer's still in good shape."

Still, he warned about the potential economic effects of the rising national debt, inflation and geopolitical conflicts.

READ MORE: JPMorgan CEO Dimon says US economy is booming

Jamie Dimon, Chairman and Chief Executive Officer of JPMorgan Chase, said now more than ever the economy is resembling the 1970's at the Economic Club of New York.

READ MORE: JPMorgan’s Jamie Dimon can’t shake the worry America is headed for a repeat of 1970s-style stagflation

JPMorgan Chase (JPM) CEO Jamie Dimon is concerned the US economy could be in for a repeat of the problems that hampered the country during the 1970s.

"Yes, I think there’s a chance that can happen again," he said during an appearance Tuesday at the Economic Club of New York.

The economy in that troubled decade was constrained by stagflation, a combination of low growth and high inflation, and Dimon said such a risk exists again.

READ MORE: Jamie Dimon is worried the US economy is headed back to the 1970s

Most people are financially healthy, but economic and geopolitical threats could spoil the party, Jamie Dimon warned on Tuesday.

Consumers have seen their homes and stock portfolios surge in value in recent years, and they're spending a historically low percentage of their incomes on debt repayments, the JPMorgan CEO told the Economic Club of New York.

READ MORE: Jamie Dimon warns the world order is being challenged — and bashes crypto once more

New York City is “obviously the financial center of the world,” but needs to stay competitive to keep that title, according to JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon.

“No one has the right, in my view, to think they have a divine right to success,” Dimon said Tuesday at the Economic Club of New York. “You’ve seen it with cities, you’ve seen it with governments, you’ve seen it with countries — people go the wrong way.”

READ MORE:  New York Must Fight to Compete With Cities Worldwide, Dimon Says

JPMorgan Chase Chairman and CEO Jamie Dimon on Tuesday lambasted the bank regulatory environment while praising the American economy during an appearance at the Economic Club of New York.

READ MORE: 'Through the looking glass': Jamie Dimon sounds off on regulatory burden

Reiterating themes in his annual shareholder letter at an appearance at the Economic Club of New York, said he has been facing an "anti-business" attitude from regulators and lawmakers on Capitol Hill.

READ MORE: Jamie Dimon praises House leaders for Ukraine, Israel aid deal, but flags difficulty of getting anything done in the U.S.

The U.S. economic boom is "unbelievable," Dimon said at an Economic Club of New York event on Tuesday. "Even if we go into recession, the consumer's still in good shape."

READ MORE: JPMorgan CEO Dimon Says US Economy Is Booming

JPMorgan Chase Chair and CEO Jamie Dimon says even if the US economy goes into recession, the consumer is in good shape. Speaking at the Economic Club of New York, Dimon also says he is cautious about an economic soft landing. 

READ MORE: JPMorgan's Dimon Says US Economy is 'Booming'

At the Economic Club of New York, Dimon said to watch out for "stagflation," which is an economic situation defined by high inflation and unemployment as well as slowed growth. Despite that concern, he said the American economy has continued to boom.

READ MORE: Dimon says economy is booming, but 'stagflation' risk remains

"I want to help my country," Dimon, one of corporate America's most prominent executives, said in a wide-ranging interview with Marie-Josee Kravis, chair emerita of the Economic Club of New York.

READ MORE: JPMorgan CEO Dimon says US economy is booming

JPMorgan Chase CEO Jamie Dimon expressed confidence on Tuesday in a robust US economy backed by strong employment and healthy consumer finances.

The US economic boom is “unbelievable,” Dimon said in an interview at an Economic Club of New York event. “Even if we go into recession, the consumer’s still in good shape.”

Still, he warned about the potential economic impact of deficit spending, inflation and geopolitical conflicts.


READ MORE: Jamie Dimon says US economy is 'unbelievable' and booming

There was an hour of clarity Tuesday when policymakers made it clear that the central banks of the U.S. and Europe are to part ways.

At the Economic Club of New York, the governor of France’s central bank told his audience that the eurozone’s key interest rate will be cut in June, “barring major shocks or surprises.”

READ MORE: Hannon’s Take: Dead Set on Divergence

Villeroy, who is also governor of the French central bank, said after the first rate cut is delivered "barring shocks or surprises" in June, the pace of further moves would be guided by the flow of economic data and decided strictly on a meeting-by-meeting basis.

"That said, we will monitor closely the geopolitical developments in the Middle East, and their possible spillovers on energy prices," Villeroy told an event at the Economic Club of New York.

READ MORE: ECB can adjust pace of cuts if Mideast tensions flare, Villeroy says

The European Central Bank will need to make further reductions to interest rates this year and next, following an initial move in June, according to Governing Council member Francois Villeroy de Galhau.

The Bank of France chief said the time has come to ease policy since there’s “no serious evidence” behind the fear that the last mile of bringing inflation back toward 2% is more difficult. He also said there are no signs of a wage-price spiral, with average compensation per employee slowing markedly.

“We should, barring major shocks or surprises, decide on a first rate cut at our next meeting on June 6,” he told the Economic Club of New York. 

READ MORE: ECB to Cut More in 2024 and 2025 After June, Villeroy Says

"Overall, the recent data have not materially changed my outlook, but they do highlight uncertainties related to timing, and the need for patience,” Collins said in a speech at the Economic Club of New York.

“It may take longer to discern whether the economy is sustainably on a path back to 2% inflation, and thus less easing of policy this year than previously thought may be warranted.”

READ MORE: 2 Fed officials offer reassurances about cuts in 2024 despite 'bumps' and 'uncertainties'

Recent labor market and inflation data highlight the need for the U.S. central bank to be patient about monetary policy, and has reduced the “urgency” to cut interest rates, Boston Federal Reserve President Susan Collins said Thursday.

“Overall, the recent data have not materially changed my outlook, but they do highlight uncertainties related to timing, and the need for patience,” Collins said, in a speech to the Economic Club of New York. 

READ MORE: Fed’s Collins: Recent data ‘reduces the urgency to ease’

“Overall, the recent data have not materially changed my outlook, but they do highlight uncertainties related to timing, and the need for patience — recognizing that disinflation may continue to be uneven,” Collins said at an Economic Club of New York event Thursday. “This also implies that less easing of policy this year than previously thought may be warranted.”

READ MORE: Fed’s Collins Says Data May Warrant Later, Fewer Cuts This Year

“I do expect it will be appropriate to begin lowering the federal funds rate later this year,” Collins said in the text of a speech prepared for delivery before a gathering of the Economic Club of New York. That said, “recent data suggest it may take more time than I had previously thought to gain greater confidence in inflation’s downward trajectory, before beginning to ease policy,” the official said.

READ MORE: Fed's Collins sees no urgency to cut rates

In a speech to the Economic Club of New York, Collins said while she was worried interest rates were becoming too high at the beginning of the year, strong jobs reports since then have shown the labor market is moving into better balance. “The Importance of a Patient, Methodical, and Holistic Approach to Monetary Policy." Furthermore, recent elevated inflation prints were not necessarily a surprise given how quickly the rate of inflation declined in the second half of 2023.