Jamie Dimon says economic boom fueled by deficit spending, vaccines could ‘easily run into 2023’ - CNBC

"I have little doubt that with excess savings, new stimulus savings, huge deficit spending, more QE, a new potential infrastructure bill, a successful vaccine and euphoria around the end of the pandemic, the U.S.

He said the longer-term impact of the reopening boom won't be known for years because it will take time to ascertain the quality of government spending, including President Joe Biden's proposed $2 trillion infrastructure bill.

"Spent wisely, it will create more economic opportunity for everyone," he said.

While Dimon called stock market valuations "quite high," he said a multiyear boom may justify current levels because markets are pricing in economic growth and excess savings that make their way into equities.

While he is bullish for the economy's immediate future, there are serious challenges for the U.S., Dimon said.