GO
Loading...

US economy is 'fundamentally sound': JPM's Kasman

Is the economy losing its steam? After two unexpectedly low jobs numbers, and a harsh winter that has been blamed for some weak economic reports, many think so.

But J.P. Morgan Chief Economist Bruce Kasman says people should look through the noise and focus on economic growth.

"I would look at the momentum in the economy, and it grew 3.5 percent in the second half of last year," Kasman said on CNBC's "Squawk Box."

(Read more: What Congress is likely to hear from Yellen)

Even though the economy has seen a slide in momentum, Kasman thinks the economy is on the right track.

"We think growth will be about 2.5 (percent) in the first half of this year in the U.S., but we think the economy is fundamentally sound," Kasman said. "Looking through the noise will average 3 percent as we go through the next number of quarters."

Kasman also warned that the momentum in the economy would keep sliding for a while.

"We faded the balances. We were watching the strong numbers in the fall. I think you want to fade the dip here, but recognize this dip is just beginning, and we'll see it in December, January and maybe even into February numbers," he said.

By CNBC's Silvana Ordoñez.

Contact US Economy

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    To learn more about how we use your information,
    please read our Privacy Policy.
    › Learn More