JPMorgan Chief Issues Stark Warning on Recession

Contact Your Elected Officials
The Epoch Times Header

Jamie Dimon, CEO of JPMorgan Chase, has warned that inflation could go up again, leading to higher interest rates andโ€”possiblyโ€”recession.

JPMorgan CEO Jamie Dimon has warned that inflation could accelerate again and that a recession could well materialize if the Federal Reserve takes interest rates higher in response to resurging price pressures.

โ€œA lot of things out there are dangerous and inflationary. Be prepared,โ€ Mr. Dimon said at the 2023 New York Times DealBook Summit in New York on Nov. 29, during which he said that geopolitical tensions and the energy transition were prompting governments to ramp up spending, which is inflationary.

A new inflationary spike would pressure the Fed to raise interest rates further, which would have a cooling effect on the economy.

โ€œInterest rates may go up, and that might lead to recession,โ€ Mr. Dimon said, while expressing caution about the economy, especially the effect that inflation has had on U.S. households.

Like other business leaders before him, Mr. Dimon said that stimulus cash doled out during the COVID-19 pandemic bolstered consumer spending and propped up the economy, but its effects are fading.

He added that the Fed’s fast pace of raising interest rates (which went from zero to more than 5 percent at the quickest pace since the 1980s), along with a reversal of its quantitative easing program, were squeezing the economy and consumers.

So far, there’s been a limited effect of higher interest rates and geopolitical tensions on U.S. consumers, who have continued to spend despite signs of an economic slowdown.

Consumer spending is a key driver of the economy, accounting for roughly two-thirds of economic output.

‘Most Dangerous Time’ In Decades Is Here

Earlier, Mr. Dimon sounded the alarm that U.S. consumers were running down their excess cash buffersย while issuingย a somber warning that “the most dangerous time” the world has seen in decades has arrived.

While warning of clouds on the horizon of consumer spending, “extremely” high government debt levels, and the largest peacetime fiscal deficits in U.S. history, Mr. Dimon said in mid-October that he sees a growing risk that inflation stays high and that the Fed will raise interest rates even higher.

Byย Tom Ozimek

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

Zelensky Is Manipulating Trump Into A Disaster Of Epic Proportions

Trumpโ€™s flip-flop on Ukraine is leading to Trump's manipulation by Zelensky into a disaster of epic proportions if Trump doesnโ€™t soon wise up. ย 

Pregnant TikTok Goblins Gobble Tylenol, Demand #AutismAcceptance

HHS Sec. RFK Jr. and President Trump announced findings that Tylenol use in pregnant women and babies may be associated with increased risk of autism.

Fox News Exploits MN Church Massacre to Push AI โ€˜Early Interventionโ€™ Crime Suppression

Donโ€™t let the technocratsโ€™ performative empathy and calls for prayer in aftermath of a man-made disaster deceive; dead kids are golden opportunities for the national security state.

Grit over glamor: the tranquil excellence of D-III college football

Division-III football is where walk-ons become captains, and linemen become legends. Next time you pass a small college stadium, stop in.

Kimmelโ€™s Consequence

Jimmy Kimmel's suspension was a reminder that while he is free to speak, that freedom is a privilege extended at the discretion of his employer.

Kenvue Responds to Old Tylenol Posts on Social Media

Posts on social media stating Tylenol has not been tested during pregnancy and is not recommended for pregnant women are being taken out of context.

Rep. Tom Tiffany Announces Run for Governor of Wisconsin

U.S. Rep. Tom Tiffany (R-Wis.) announced on Sept. 23 that he will run for governor of Wisconsin in the 2026 general election.

Adelita Grijalva Wins Special Election for US House Seat in Arizona

Her father, the late U.S. Rep. Raรบl Grijalva, held...

1 Dead, 2 Injured in Shooting at Dallas ICE Facility: Officials

Several people were shot at an Immigration and Customs Enforcement field office in Dallas on Wednesday, said Homeland Security Sec. Kristi Noem.

Trump Announces New Executive Order to Dismantle Antifa

President Donald Trump announced on Wednesday that he would be signing a new executive order to dismantle Antifa networks in the United States.

Trump Hangs Portrait of Joe Biden Autopen in New White House Presidential Wall of Fame

President Donald Trump hangs portrait of Joe bidden autopen in new White House Presidential Wall of Fame after joking about doing so in an interview.

Trump Warns Against Globalist Agendas in UN Address, Holds Bilaterals

President Trump speaks at the 80th anniversary of the UN, with the gathering focused on โ€œpeace, development, and human rights.โ€

What to Know About Changes to Foreign Workersโ€™ H-1B Visa Program

Trump announced new fee structure for obtaining an H-1B visa. Companies will pay a one-time fee of $100,000 for importing a foreign worker under program.
spot_img

Related Articles