In his annual letter to shareholders released earlier this month, JPMorgan CEO Jamie Dimon predicted that the pandemic will end with an economic rebound in the U.S. that lasts into 2023. This according to a recent Bloomberg article.

“I have little doubt that with excess savings, new stimulus savings, the deficit spending, more QE, a new potential infrastructure bill, a successful vaccine and euphoria around the end of the pandemic, the U.S. economy will likely boom,” he wrote, adding, “This boom could easily run into 2023.”

According to the article, Dimon suggests all the factors could add up to a Goldilocks moment, where growth is fast and sustained while inflation ticks up gently. Threats to that outlook reportedly include virus variants and a “rapid or sustained jump in inflation that prompts rates to rise sooner.”

The 65-year-old Dimon also warned shareholders, “Banks have enormous competitive threats—from virtually every angle. Fintech and Big Tech are here…big time!” With specific regard to JPMorgan, he said, “While I am confident that JPMorgan Chase can grow and earns a good return for its shareholders, the competition will be intense, and we must get faster and be more creative. Acquisitions are in our future, and fintech is an area where some of that cash could be put to work.”

On a more somber note, Dimon highlighted inequities that the pandemic has brought into the forefront related to health care, immigration, and a loss of faith in the government’s ability to solve problems which fuels populism and the right and left. But Dimon wrote, “populism is not policy, and we cannot let it drive another round of poor planning and bad leadership that will simply make our country’s situation worse.”