JPMorgan Chase CEO: ‘Brace Yourself’ for Economic Hurricane
Jamie Dimon, the chief executive at JPMorgan Chase, warned of an impending economic “hurricane,” telling listeners that “you better brace yourself.”
“It’s a hurricane. Right now, it’s kind of sunny, things are doing fine. Everyone thinks the Fed can handle this,” Dimon said during a recent financial conference.
“That hurricane is right out there down the road, coming our way. We just don’t know if it’s a minor one or Superstorm Sandy or Andrew or something like that, and you better brace yourself,” he said.
Dimon pointed to two specific issues driving his concern: Russia’s ongoing invasion of Ukraine and its impact on rising food and gas prices, and the Federal Reserve’s efforts to mitigate inflation by raising interest rates.
Watch Dimon’s comments below: