JPMorgan Chase
CEO Jamie Dimon raised considerations concerning the financial system sliding right into a recession but once more on Tuesday.
While the U.S. financial system continues to be the strongest globally, rising rates of interest and inflation will wipe out the cushion of money customers constructed up in the course of the pandemic someday in mid 2023, he mentioned. “And so when you’re looking out forward, those things may very well derail the economy and cause a mild or hard recession,” Dimon mentioned in an interview with CNBC.
Dimon’s newest remarks comply with his prediction in October, made in one other interview with CNBC, {that a} recession within the U.S. will arrive inside “six to nine months.” Markets may fall “another easy 20%,” he mentioned.
