2019 could be the fastest global growth year on record: Jamie Dimon

Volatility entered the markets in 2018, following a very calm 2017, as geopolitics and the bull market’s record-setting run led investors to wonder: “How long can the good times last?”

Speaking at an Axios event in Columbus, Ohio on Thursday, discussing the future of work, JPMorgan Chase CEO Jamie Dimon cautioned about focusing on the short term when it comes to the markets and growth, noting that the current economic picture more closely resembles the positive headlines versus the negative that investors are bombarded with on a daily basis.

“2019 could be the fastest global growth year on record,” Dimon said, but noted that in 2020-2021 there could be some sort of slowdown.

The International Monetary Fund predicts the global economy will grow 3.7 percent in 2018 and 2019.

The U.S. economy grew at a 3.5 percent annualized rate in the third quarter, a slowdown compared to the second quarter when it advanced 4.2 percent. The country’s economic expansion is in its ninth year.

This comes as the country’s job market is rock-solid, with the unemployment rate at a decade-low, supporting consumer confidence and spending. Consumer confidence is crucial to America’s economy because consumer spending accounts for about two-thirds of the nation’s economic growth.

*This story was originally published on 11/15/19.