The widespread supply chain disruptions plaguing manufacturers and retailers across the world will probably work themselves out over the next few months, chief executives of the largest US banks have said.
“This will not be an issue next year at all,” said Jamie Dimon, JPMorgan Chase chief executive, at the Institute of International Finance conference this week. “This is the worst part of it and the great market system will adjust for it.”
Still, the chief executives of Bank of America and Wells Fargo acknowledged in remarks at the IIF conference that they initially underestimated the extent to which shortages of labour and materials would upend global supply chains.
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