Jamie Dimon sees ‘storm clouds’ ahead for U.S. economy later this year - Printable Version +- Ipoh Community Forums (https://forums.ipoh.com.my) +-- Forum: News and Current Affairs (https://forums.ipoh.com.my/forum-11.html) +--- Forum: International News (https://forums.ipoh.com.my/forum-13.html) +---- Forum: Business, Economy and Investment (https://forums.ipoh.com.my/forum-56.html) +---- Thread: Jamie Dimon sees ‘storm clouds’ ahead for U.S. economy later this year (/thread-5497.html)

Jamie Dimon sees ‘storm clouds’ ahead for U.S. economy later this year - superadmin - 04-14-2022 The risk that the Federal Reserve accidentally tips the U.S. economy into recession as it combats inflation is rising, according to JPMorgan Chase CEO Jamie Dimon. “I’m simply pointing out that those are storm clouds on the horizon that may disappear, they may not,” Dimon said. In the event that a recession does develop, the bank would “have to put up a lot more” for loan loss reserves, Dimon told reporters.  The risk that the Federal Reserve accidentally tips the U.S. economy into recession as it combats inflation is rising, according to JPMorgan Chase CEO Jamie Dimon. The CEO of the biggest U.S. bank by assets said Wednesday that economic growth will continue at least through the second and third quarters of this year, fueled by consumers and businesses flush with cash and paying off debts on time. “After that, it’s hard to predict. You’ve got two other very large countervailing factors which you guys are all completely aware of,” Dimon told analysts, naming inflation and quantitative tightening, or the reversal of Fed bond-buying policies. “You’ve never seen that before. I’m simply pointing out that those are storm clouds on the horizon that may disappear, they may not.” - More -