Jamie Dimon, Chairman and Chief Executive serviceman (CEO) of JPMorgan Chase & Co. (JPM) speaks to the Economic Club of New York successful Manhattan successful New York City, U.S., April 23, 2024.
Mike Segar | Reuters
JPMorgan Chase CEO Jamie Dimon said Tuesday helium wouldn't regularisation retired stagflation, adjacent with greater assurance precocious that ostentation is coming disconnected its highs.
"I would accidental the worst result is stagflation — recession, higher inflation," Dimon said astatine a autumn league from the Council of Institutional Investors successful Brooklyn, New York. "And by the way, I wouldn't instrumentality it disconnected the table."
The main enforcement of the largest U.S. slope makes his comments astatine a clip erstwhile investors are turning their attraction to signs of slowing growth. Recent readings showed pricing pressures progressively connected their mode to the Federal Reserve's 2% ostentation target, but reports connected employment and manufacturing person revealed immoderate signs of softening.
Investors volition get immoderate further cardinal information this week, with the user terms scale and shaper terms scale coming Wednesday and Thursday, respectively.
But Dimon worries that a raft of inflationary forces connected the horizon, specified arsenic higher deficits and accrued infrastructure spending, volition proceed to adhd unit to an system inactive reeling from the interaction of higher involvement rates.
"They're each inflationary, fundamentally successful the abbreviated run, the adjacent mates of years," Dimon said. "So, it's hard to look astatine [it] and say, 'Well, no, we're retired of the woods.' I don't deliberation so."
The slope person has antecedently warned of an economical slowdown. In August, helium said the likelihood of a "soft landing" were around 35% to 40%, implying a recession is the much apt outcome.
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