US ‘Consumers in Very Good Shape’ Under Strong Trump Economy
“Right now, there’s no question: It’s feeling strong. I mean, if we’re in the sixth inning, we have our sluggers coming to bat right now,” Berkshire Hathaway Chairman Buffett, 87 anni, said.
“The way I look at it, there is nothing that is a real pothole,” JPMorgan CEO Dimon told reporters.
“If you look at how the table’s set, consumers are in very good shape,” Mr. Dimon said. “Their balance sheet, their incomes, wages are going up, their debt levels are low, all the credit written since the Great Recession is pristine, whether it’s mortgage credit, other than student lending, which is done by the government.”
“I’m no good at predicting out 2-3-5 years from now, although I will say this: There’s no question in my mind that America’s going to be far ahead of where we are now 10, 20 and 30 years from now,” he added. “But right now, business is good. There’s no question about it.”
For his part, Mr. Dimon predicted that the economic prosperity could flourish for many more years.
“Business sentiment is almost at the highest level it’s ever been, consumer sentiment is at its highest levels, markets are wide open, housing’s in short supply and my guess is mortgage credit will expand a little bit,” he said.
Messrs Dimon and Buffett are far from being alone in their optimistic economic predictions.
White House economic adviser Larry Kudlow predicts that the U.S. economy, the fastest growing among industrialized nations, is on the path to even greater prosperity under President Donald Trump.
“The United States now has the fastest growing economy in the world, according to the OECD, or at least the fasting growing economy among the industrialized nations,” Mr. Kudlow told reporters Wednesday at a White House press conference Wednesday.
“The United States economy is going through a very positive transformation right now, as I said earlier: lower tax rates, rollback of regulations,” said Mr. Kudlow, director of the White House’s National Economic Council.
“The war against business is over. The war against success is over. The war against energy is over. “We have now freed up the animal spirits; you can see that by the confidence indexes,” said Mr. Kudlow.
For his part, the President has taken to Twitter to tout his administration’s economic accomplishments.
“The US has an increased economic value of more than 7 Trillion Dollars since the Election. May be the best economy in the history of our country. Record Jobs numbers. Nice!” President Trump Tweeted.