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'Worst case scenario has been averted': JP Morgan's Jamie Dimon on economic challenges due to COVID-19

Jamie Dimon said governments and central banks across the globe prevented the situation from becoming worse.

September 23, 2020 / 09:20 PM IST

JP Morgan Chief Executive Officer (CEO) Jamie Dimon said the worst case scenario has been averted, amid the economic fallout of the COVID-19 pandemic.

"This has been one of the biggest downturns the world has ever seen, followed by the biggest upturn," Dimon said in an interview with CNBC-TV18.

Dimon said governments and central banks across the globe prevented the situation from worsening.

He also spoke about his thoughts on India as a destination for global investment.

"We have done nothing but grow in India. Nothing will change our plans to invest in India," Dimon said.

Dimon also emphasised the need for more national infrastructure programmes, adding that less bureaucracy is crucial for India.

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The JPMorgan CEO also spoke about the the potential effect of the US Presidential election outcome on the economy.

"Presidential election results do not affect economy for next year," he said.

Dimon also shared his views on how global markets have reacted to the economic impact of the pandemic.

"If we see a gentle recovery over the next two years, markets may be justified in where they are now," he said.



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Moneycontrol News
first published: Sep 23, 2020 09:09 am
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