JPMorgan Chief Jamie Dimon Warns of ‘Something Worse’ Than Recession – Economics Bitcoin News

JPMorgan Chief Jamie Dimon Warns of ‘Something Worse’ Than Recession – Economics Bitcoin News

JPMorgan CEO Jamie Dimon shared his predictions for the US economy, including the chance for “something worse” than a recession. “There are storm clouds,” the CEO said, citing interest rates, QT, oil, Ukraine, war and China.

JPMorgan chief Jamie Dimon’s economic forecasts

JPMorgan Chairman and CEO Jamie Dimon reportedly shared his predictions about where the U.S. economy is headed during a call with a client last week, Yahoo Finance reported Saturday.

Noting that the U.S. economy is strong, with consumer and business balance sheets in good shape, the executive stressed that “you have to think differently” when forecasting. The JPMorgan boss described: “What is there? There are storm clouds. Rates, QT, oil, Ukraine, war, China.”

Dimon shared, “If I had to put the odds: soft landing 10%. Harder landing, mild recession, 20%, 30%.” he added:

Severe recession, 20%, 30%. And maybe something worse than 20% to 30%.

“It’s a bad mistake to say ‘here’s my one-point forecast,'” he explained.

His predictions echoed what he said in June when he warned that an economic hurricane “it’s coming to us.” He advised investors to prepare.

While Dimon sees the possibility of something worse than a recession, he emphasized during a recent visit to JPMorgan Chase’s bank branch in Olneyville, “Whatever the future holds, JPMorgan is ready.”

Various analysts predict that the US economy could be in recession this year. Bank of America Chief Economist Michael Gapen told Fox Business on Monday that there is a strong chance of a mild recession this year. He expects the Federal Reserve to inadvertently trigger a downturn with its war on inflation. “This cycle probably ends with a slight decline… How do I get there? It’s basically just history. It is really difficult to achieve a soft landing,” the analyst believes.

Goldman Sachs economist David Mericle detailed in a client note on Sunday: “Our broad conclusion is that there is a feasible but difficult path to a soft landing, although several factors beyond the Fed’s control may ease or complicate that path and increase or decrease chances of success.”

What do you think of JPMorgan CEO Jamie Dimon’s economic predictions? Let us know in the comments section below.

JPMorgan Chief Jamie Dimon Warns of ‘Something Worse’ Than Recession – Economics Bitcoin News

Kevin Helms

An Austrian economics student, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in bitcoin security, open source systems, network effects, and the intersection between economics and cryptography.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service or company. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by the use of or reliance on any content, goods or services mentioned in this article.

(function(d, s, id) {
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src=”https://connect.facebook.net/en_US/sdk.js#xfbml=1&version=v3.2″;
fjs.parentNode.insertBefore(js, fjs);
}(document, ‘script’, ‘facebook-jssdk’));



Source link

Leave a Reply