He also opined that financial markets are pricing in a 70% to 80% chance of a soft landing, but his view is “about half” that and that fiscal stimulus and interest rate cuts from the Federal Reserve “may develop over several years.
Jamie Dimonexecutive director of JPMorgan Chase & Co and renowned financial guru, He gave his opinion on a topic that is gaining more and more strength, a possible bubble in sight with artificial intelligence and its perspectives as a protagonist, just as happened in the year 2000 with the so-called “dotcom” and the rise of the Internet.
Dimon told CNBC-TV on Monday in an interview from the JPMorgan Chase Global Finance and Performance Conference that, compared to the internet bubble In the late 1990s, artificial intelligence offers more substantial perspectives.
Thus, the renowned analyst said that it is a “great optimist“of artificial intelligence and it is already being used in many ways.”When we first had the Internet bubble, that was overblown.“Dimon said.”This is not an exaggeration, it is real“.
The support of Dimon’s words
Asked about the US economy, Dimon said that financial markets are valuing a 70% to 80% chance of a soft landingbut your opinion is “about half” of that.
“Ohnow confidence is up, stock markets are up, spreads are approaching all-time lows, generally speaking, markets are up,” Dimon said.
But he added that the Federal Reserve’s fiscal stimulus and interest rate cuts “may unfold over several years.” and that even if the market avoids a recession this year, the economy could falter after that. “I’m a little cautious,” she said.
Asked about banks’ exposure to the office and multifamily real estate market that recently caused jitters at regional banks, Dimon said that if the economy avoids a recession, “it will be more like playing whack-a-mole… instead of a domino effect” in banks with exposure to weak areas of the business.
While data centers, healthcare and warehouses are doing relatively well in commercial real estateoffice exposure could be challenging for some banks, he said.
Source: Ambito
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