JPMorgan CEO Jamie Dimon is bullish on the American consumer.
In an interview Wednesday with Yahoo Finance’s Andy Serwer, Dimon said consumers are looking strong – and that that’s a good sign for the US economy.
“The balance sheet of the American consumer is pretty good, meaning how much of their income goes to serve as debt is lower than it has been in 30 years,” said Dimon during the sit-down.
“Asset prices are up, home prices are up, and homes are far more important than the stock market to the average American. It looks like it’s in pretty good shape and finally getting stronger.”
He also said one of the most encouraging signs was that the average consumer’s balance sheet is looking solid. Specifically, the amount of income going towards monthly debt payments is at its lowest level in 30 years, he said.
Dimon recently highlighted “structural issues” that he perceived within the country in his annual letter to shareholders.