JPMorgan Chase & Co. Chief Executive Jamie Dimon said U.S. consumers still have some six to nine months of spending power left in their bank accounts but warned of an economic “hurricane” brewing.
The head of the nation’s biggest bank said the recent drop in Americans’ savings rate hadn’t altered his view that the government’s pandemic stimulus is still padding consumers’ wallets. He estimated that some $2 trillion in extra funds are still waiting to be spent.
