JPMorgan Chase
CEO Jamie Dimon raised concerns about the economy sliding into a recession yet again on Tuesday.
While the U.S. economy continues to be the strongest globally, rising interest rates and inflation will wipe out the cushion of cash consumers built up during the pandemic sometime in mid 2023, he said. “And so when you’re looking out forward, those things may very well derail the economy and cause a mild or hard recession,” Dimon said in an interview with CNBC.
Dimon’s latest remarks follow his prediction in October, made in another interview with CNBC, that a recession in the U.S. will arrive within “six to nine months.” Markets could fall “another easy 20%,” he said.
