Jamie Dimon, CEO of JPMorgan Chase, on the trajectory of Federal Reserve charges, the 2024 economic system, upcoming banking regulation and synthetic intelligence.
JPMorgan Chase CEO Jamie Dimon warned traders on Friday about present dangers to the worldwide economic system and highlighted “crucial points” going through the United States, specifically.
“We have been intently monitoring the geopolitical scenario for a while, and up to date occasions present that circumstances are treacherous and worsening,” Dimon mentioned in a press launch accompanying JPMorgan’s third-quarter earnings. “There is important human struggling and the end result of those conditions might have far-reaching results each on short-term financial outcomes and, importantly, on the course of historical past.”
Jamie Dimon, CEO of JPMorgan Chase, speaks throughout an Economic Club of New York occasion in New York on April 23. (Victor J. Blue/Bloomberg by way of Getty Images/Getty Images)
“Furthermore, whereas inflation is slowing and the U.S. economic system stays resilient, a number of crucial points stay, together with massive fiscal deficits, infrastructure wants, commerce restructuring, and the remilitarization of the world,” Dimon continued. “While we hope for the perfect, these occasions and the prevailing uncertainty display why we should be ready for any setting.”
JAMIE DIMON AGAIN DECIDES ON PRESIDENTIAL APPROVAL FOR 2024
According to the Federal Reserve, JPMorgan Chase is the most important financial institution within the United States, with belongings of $3.5 trillion. (Tim Clayton/Corbis by way of Getty Images/Getty Images)
The head of JPMorgan has repeatedly warned that the United States must get its fiscal system so as earlier than the nation’s finances deficit spirals right into a disaster.
Earlier this 12 months, Dimon warned that the United States is headed for the abyss as its debt balloons, and mentioned “the worst end result” for the nation is stagflation, including: “ And anyway, I would not take it off the desk.”
According to the Federal Reserve, JPMorgan Chase is the most important financial institution within the United States, with belongings of $3.5 trillion. Its shares are up almost 30% 12 months to this point.
