JPMorgan Boss Jamie Dimon Warns ‘Something Worse’ Than a Recession Could Be Coming – Economics Bitcoin News

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

JPMorgan’s Jamie Dimon Economic Forecast

JPMorgan’s chairman and chief executive officer, Jamie Dimon, is said to have shared his prediction for the position of the US economy during a call with clients last week, Yahoo Finance reported on Saturday.

While noting that the US economy is strong, with consumer and business balance sheets doing well, the executive stressed that “you have to think differently” when forecast. JPMorgan’s director described: “What’s out there? There are storm clouds. Exchange rate, QT, oil, Ukraine, war, China. “

“If I had to place the odds: a soft landing of 10%,” said Dimon. Harder landing, slight recession, 20%, 30%. “He added:

Recession more difficult, 20%, 30%. And maybe something worse at 20% to 30%.

“It would be a terrible mistake to say that ‘this is my single point forecast,’” he explains.

His predictions echo what he said in June when he warned that a economic storm is “come our way.” He advises investors to brace themselves.

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

Many analysts have predicted that the US economy could shrink this year. Bank of America’s head of US economics, Michael Gapen, told Fox Business Monday that there’s a high chance of a mild recession this year. He expects the Federal Reserve to inadvertently trigger a recession with its fight against inflation. “This cycle could end in a mild recession… How do I get there? It’s basically just history. It’s really hard to achieve a soft landing,” the analyst emphasized.

Goldman Sachs economist David Mericle detailed in a client note on Sunday: “Our overall conclusion is that there is a viable but difficult path to a soft landing, despite several weaknesses. Factors beyond the Fed’s control can ease or complicate that path and increase or decrease the odds of success.”

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

Kevin Helms

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

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