JPMorgan Leaders Express Divergent Views on 2024 Economic Outlook

While Chief Global Strategist David Kelly predicts a 'soft landing', CEO Jamie Dimon warns of potential disruptions and expresses skepticism about the 'Goldilocks' economy scenario.

JPMorgan's chief global strategist, David Kelly, predicts a 'soft landing' for the US economy, with a 35% to 40% chance of a recession, down from a 100% prediction in late 2022.
Kelly's economic thesis for 2024 includes 2% GDP growth, zero recessions, 2% inflation, and a 4% unemployment rate, which aligns with a healthy expansion.
JPMorgan CEO Jamie Dimon expresses skepticism about the 'Goldilocks' economy scenario, citing the end of COVID-related financial aid and a huge federal deficit.
Dimon warns of potential disruptions from geopolitical tensions, such as conflicts in Ukraine and Israel, and the impact of the US elections.
Despite differing views, both Kelly and Dimon agree that businesses need to be prepared to navigate potential economic downturns.