JPMorgan CEO Jamie Dimon issued a stark warning about the U.S. economy. No sooner has Janet Yellen said our economy is good and strong when Jamie Dimon says the risks confronting Americans may be the worst since World War II. Don’t expect a soft landing.
Mr. Dimon made the remarks in his annual letter to shareholders.
“We may be entering one of the most treacherous geopolitical eras since World War II,” Mr. Dimon wrote, warning that the impacts of major economic and geopolitical forces—from high levels of debt and fiscal stimulus to the wars in Ukraine and the Middle East—could deliver nasty surprises to markets, reports The Epoch Times.
He said he’s worried about the Biden administration’s ongoing deficit spending, the unknown effects of quantitative tightening, the prospect that inflation will stay higher for longer, and the forces of deglobalization.
“The impacts of these geopolitical and economic forces are large and somewhat unprecedented,” Mr. Dimon warned. “They may not be fully understood until they have completely played out over multiple years.”
Even though many economic indicators appear good and may even be improving, including inflation numbers, Mr. Dimon said this could turn out to be little more than a mirage.
“There seems to be a large number of persistent inflationary pressures, which may likely continue,” Mr. Dimon wrote.
I think Jamie Dimon is long overdue for an FBI raid.
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