JPMorgan CEO Warns of ‘Most Dangerous Time the World Has Seen in Decades’

JPMorgan Chase CEO Jamie Dimon has warned of “the astir unsafe clip the satellite has seen successful decades.” The enforcement explained that “the warfare successful Ukraine compounded by past week’s attacks connected Israel whitethorn person far-reaching impacts connected vigor and nutrient markets, planetary trade, and geopolitical relationships.”

Jamie Dimon’s Latest Warnings

The president and CEO of JPMorgan Chase, Jamie Dimon, issued a informing during the merchandise of his company’s third-quarter 2023 net results that the satellite whitethorn beryllium encountering the “most unsafe time” successful decades.

“The warfare successful Ukraine compounded by past week’s attacks connected Israel whitethorn person far-reaching impacts connected vigor and nutrient markets, planetary trade, and geopolitical relationships,” the JPMorgan brag detailed, emphasizing:

This whitethorn beryllium the astir unsafe clip the satellite has seen successful decades.

While insisting that “U.S. consumers and businesses mostly stay healthy,” Dimon cautioned that “persistently choky labour markets arsenic good arsenic highly precocious authorities indebtedness levels with the largest peacetime fiscal deficits ever are expanding the risks that ostentation remains elevated and that involvement rates emergence further from here.”

Moreover, the JPMorgan main noted that “we inactive bash not cognize the longer-term consequences of quantitative tightening, which reduces liquidity successful the strategy astatine a clip erstwhile market-making capabilities are progressively constricted by regulations.”

Last week, Dimon explained that determination are 2 “extraordinary” storm clouds happening contiguous that whitethorn person “bad outcomes” for the U.S. economy. He likewise said that the fiscal wealth being spent successful the U.S. “is truthful big, the largest successful peacetime ever … with precise precocious deficits and QT we’ve ne'er had.” The enforcement besides precocious warned of stagflation and that the Federal Reserve could rise involvement rates to 7%. Emphasizing that stagflation is the worst result economically, helium warned: “If that happens, you’re going to spot a batch of radical struggling.”

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