Jamie Dimon (JPMorgan):
“The U.S. economy is the strongest in the world and is doing pretty well.”
“We may see a weak recession next year.”
“Inflation is burning up people’s savings, but people still have a decent amount of money left over from COVID stimulus programs. That money will have to run out in 2023.”
Charles Scharf (Wells Fargo):
“Household spending is slowing and that’s a positive thing to keep inflation in check.”
“We are seeing a steady downward trend in our clients’ savings.”
David Solomon (GS):
“Clients have massively ‘cut’ risk.”
“The macroeconomic outlook carries uncertainty.”
“Fading interest in the stock market.”
