JPMorgan’s Jamie Dimon warns that US recession is “likely outcome”
JPMorgan CEO Jamie Dimon’s degree of economic angst appears to have ratcheted higher from Monday, when he sent a lengthy letter to shareholders.
“Whether or not the menu of tariffs causes a recession remains in question, but it will slow down growth,” he wrote.
He provided some detail on how he’d answer that question in an interview with Fox Business on Wednesday morning. A few headlines from the appearance:
*DIMON: ‘PROBABLY’ A RECESSION IS ‘LIKELY OUTCOME’
*DIMON: I EXPECT MORE CREDIT PROBLEMS THAN IN A LONG TIME
*DIMON: NOT SEEING DEFAULTS YET ‘BUT I EXPECT THEM’
*DIMON: PUT SOME HEADCOUNT CONTROLS IN PLACE, NOT FORCING CUTS
The CEO of America’s preeminent bank added that he’s hopeful any recession would be short, and that “fixing these tariff issues and trade issues would be a good thing to do.”
JPMorgan reports earnings on Friday morning before the bell.
*DIMON: ‘PROBABLY’ A RECESSION IS ‘LIKELY OUTCOME’
*DIMON: I EXPECT MORE CREDIT PROBLEMS THAN IN A LONG TIME
*DIMON: NOT SEEING DEFAULTS YET ‘BUT I EXPECT THEM’
*DIMON: PUT SOME HEADCOUNT CONTROLS IN PLACE, NOT FORCING CUTS
The CEO of America’s preeminent bank added that he’s hopeful any recession would be short, and that “fixing these tariff issues and trade issues would be a good thing to do.”
JPMorgan reports earnings on Friday morning before the bell.
