But of course, that's a really big "if."
"I don't know the odds," said Dimon, speaking at a conference Wednesday hosted by The New York Times' Dealbook. "We could go off the fiscal cliff, and it may not be as big of a deal as people think, but it might be, so why would you take that chance?"
Dimon thinks lawmakers will probably take their wrangling down to the final minutes but will ultimately come to a resolution.
And if they do, the United States could have "a booming economy in a couple months," said Dimon.
That would mean economic growth around 4%, rather than 2%, and job gains north of 200,000 a month, which would push the unemployment rate down.
"The table is set very good right now," said Dimon. "Housing has turned a corner. Let's just keep it going, and bring back confidence and stability."
Dimon, who calls himself "barely a Democrat," was invited to meetings at the White House to discuss the fiscal cliff but said he did not attend since he was traveling in Brazil and Chile at the time.
But he said he appreciates that the White House reached out, adding that "collaboration between business, government and civil society leads to a better outcome."
"Business just wants a rational deal to get done," said Dimon, noting that they are willing to pay more in taxes as long as the higher rates are linked with entitlement reform.
"We are one decision away from restoring our fiscal and moral authority from around the world," said Dimon. "Let's just do it."
The world's largest bond investor took to Twitter Monday to air his gripes about Paul Ryan, the newly chosen Republican vice presidential candidate.
GROSS: Do bond markets take heart from Ryan selection? Not me. He talks lower deficits but really believes in lower taxes — exact opposite.— (@PIMCO) August 13, 2012
The comments from Bill Gross, founder of investing firm Pimco, show the challenges that Ryan may face when trying to MOREHibah Yousuf - Aug 13, 2012 3:58 PM ET
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