Fixing the "fiscal cliff" and the country’s long-term fiscal problems could lead to an economic boom, JPMorgan Chase CEO Jamie Dimon told CNBC’s "Closing Bell" on Friday....
……Dimon said the U.S. is the greatest economic engine ever
built. “It’s growing slowly, it’s waiting to be ignited,” he said, adding that
if government and business collaborate there’s a greater chance of igniting
that engine.
The immediate problem holding the economy back is the fiscal
cliff, which is the looming tax increases and spending cuts that kick in at the
end of the year. Some estimates suggest
the economy would drop by 3 or 4 percent if the U.S. goes off the cliff but
Dimon said the effects could hit before the end of the year and could be much
worse. “That’s why it’s important to fix
it as soon as we can,” Dimon said.
He is also looking for a solution to the country's long-term
fiscal problems, noting that business leaders want a solution and aren’t
“religious about all the issues of taxes and spending…..”
Read all about it at http://www.cnbc.com/id/49762930
No comments:
Post a Comment