“The “sun, the moon and the stars” have finally begun to align for the U.S. economy, creating room for companies to grow, JPMorgan Chase CEO Jamie Dimon told CNBC on Wednesday.
In an interview on the sidelines of the World Economic Forum in Davos, Switzerland, Dimon said that profit margins are up, cash hoards are growing, and small and midsize businesses are better placed.
“I believe the sun, the moon and the stars are lined up. … Corporate America’s in excellent shape,” Dimon said. “Six million more Americans are working. Americans are wealthier in their homes, their 401(k)s. And government is doing no damage.”
“I think those things are going to line up, that it’s possible that we’re just going to start to strengthen as a company, that investors will be looking for opportunities,” he added. “Remember, companies want to expand.”
Dimon’s comments came just days after his bank reported earnings, which were down year-over-year on investment banking weakness and legal costs related to the Bernard Madoff case….”
