The global coronavirus outbreak has taken a toll on all economies and the US has been one of the worst hit with second quarter GDP reported at a staggering negative 31.7 percent.
However there seems to be hope of a bounce back. Conservative estimates from the likes of New York Federal Reserve peg third quarter GDP at 14.8 percent, while the most bullish forecast has come from Goldman Sachs with growth pegged at 35 percent for the quarter.
Jaime Dimon the CEO of the country's largest bank JPMorgan is of the view that the US Fed has succeeded in averting a financial crisis in the wake of the pandemic but he argues that governments have failed to focus on policies which support healthy growth in the long run. Speaking recently at a CNBC moderated panel at the Singapore Summit, Dimon added that short term thinking is causing governments around the world to make, "really dumb decisions."
To elaborate on this further, Shereen Bhan spoke to Jamie Dimon.Watch the video for more.