Dimon Warns $300 Billion Trump Stimulus Lifts Inflation as U.S. Growth Holds at 2%
Updated
Updated · TradingView · May 29
Dimon Warns $300 Billion Trump Stimulus Lifts Inflation as U.S. Growth Holds at 2%
5 articles · Updated · TradingView · May 29
Jamie Dimon said inflation is "ticking up" and called that "not good," even as he described the U.S. economy as still growing about 2% with unemployment at 4.3%.
$300 billion from Trump's "One Big Beautiful Bill," another roughly $300 billion in AI spending and deregulation are boosting growth and corporate profits, Dimon said, but the stimulus is also feeding price pressures.
Higher gas prices and broader inflation are hitting lower-income consumers hardest, forcing some to cut other spending or draw down savings, while higher-income households remain in better shape.
Commerce Department data released a day earlier showed disposable personal income fell $19.9 billion in April and the saving rate dropped to 2.6% from 3.6%, reinforcing concerns about consumers' financial cushion.
As war fuels inflation and savings hit a three-year low, is the U.S. economy spiraling into stagflation?
With the poorest hit hardest by inflation, how can the 'E-shaped' economy avoid deepening into a major social crisis?
With AI investments failing to show returns, how can it be a genuine economic stimulus without creating more 'workslop'?