JPMorgan CEO Jamie Dimon gives chilling warning as US economy ‘deteriorates’
JPMorgan CEO Jamie Dimon gives chilling warning as US economy ‘deteriorates’
JPMorgan Chase CEO Jamie Dimon issued a chilling warning that the United States economy could ‘deteriorate’ as inflation increases and employment rates go down.
Speaking at the Morgan Stanley US Financials Conference on Tuesday, Dimon noted that consumer confidence has fluctuated since Donald Trump took office, and the economy is facing shifting ‘tectonic plates.’
However, he cautioned that consumer-based data is not always a true reflection of the economy and he believes that the end of the pandemic-era economic stimulus could be the real reason for the deterioration, according to Fortune.
‘You have all these really complex, moving tectonic plates around trade, economics, geopolitics, and future factors, which I think are inflationary: military, restructuring of trade, ongoing fiscal deficits, so it’s okay, but whenever you say “consumer sentiment” remember neither consumers nor businesses ever pick the inflection points, they never have,’ Dimon said.
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