JPMorgan Chase CEO Jamie Dimon isn’t ruling out a US recession. He cited significant uncertainty in the global economy as a major factor.
Recession Odds and Global Worries
In a recent interview, Dimon stated that economists at JPMorgan Chase estimate a 50% chance of a recession. While he hopes to avoid one, he emphasized the numerous unpredictable factors at play. These include ongoing global conflicts like the war in Ukraine and tensions in the Middle East, along with domestic issues such as a growing budget deficit and the ongoing debate over tax legislation. He highlighted the unpredictable nature of markets, stating that the uncertainty surrounding these issues is significant and can’t be ignored.
Trade War Developments and Lingering Questions
Dimon expressed cautious optimism regarding recent developments in the trade war. While he believes de-escalation efforts are a positive step, he notes that many uncertainties remain, particularly concerning the US-China trade relationship. He pointed to the US-UK trade deal as a positive example of progress, but emphasized that much uncertainty still exists.
Disclaimer:
This information is for general knowledge and shouldn’t be considered investment advice. Always do your research before making any financial decisions.