JPMorgan’s Dimon Says U.S. No Longer Faces Risk of Recession

JPMorgan Chase & Co. (JPM) Chief Executive Officer Jamie Dimon said the U.S. may no longer be at risk of another recession and the housing market is nearing the bottom.

Dimon, head of the largest and most profitable U.S. bank, said today in an interview on CNBC that the Federal Reserve (FDTR) will maintain policies designed to boost growth until policy makers are convinced hiring is on the rise across the country.

“My own read is that they want to see 300,000 to 400,000 jobs a month for six months before they declare victory,” Dimon said. “If that actually happened, they might reverse course sooner than people think.”

Dimon, 56, reiterated his upbeat forecast for the economy, saying that the U.S. housing market is close to “the inflection point.”

Although home prices are still falling, “all the other signs are flashing green,” Dimon said.

To contact the reporter on this story: Dawn Kopecki in New York at dkopecki@bloomberg.net

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net

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