JPMorgan Chase CEO Jamie Dimon has warned of “the most dangerous time the world has seen in decades.” The executive explained that “the war in Ukraine compounded by last week’s attacks on Israel may have far-reaching impacts on energy and food markets, global trade, and geopolitical relationships.”
Jamie Dimon’s Latest Warnings
The chairman and CEO of JPMorgan Chase, Jamie Dimon, issued a warning during the release of his company’s third-quarter 2023 earnings results that the world may be encountering the “most dangerous time” in decades.
“The war in Ukraine compounded by last week’s attacks on Israel may have far-reaching impacts on energy and food markets, global trade, and geopolitical relationships,” the JPMorgan boss detailed, emphasizing:
“This may be the most dangerous time the world has seen in decades.”
While insisting that “U.S. consumers and businesses generally remain healthy,” Dimon cautioned that “persistently tight labor markets as well as extremely high government debt levels with the largest peacetime fiscal deficits ever are increasing the risks that inflation remains elevated and that interest rates rise further from here.”
Moreover, the JPMorgan chief noted that “we still do not know the longer-term consequences of quantitative tightening, which reduces liquidity in the system at a time when market-making capabilities are increasingly limited by regulations.”
Last week, Dimon explained that there are two “extraordinary” storm clouds happening today that may have “bad outcomes” for the U.S. economy. He similarly said that the fiscal money being spent in the U.S. “is so big, the largest in peacetime ever … with very high deficits and QT we’ve never had.” The executive also recently warned of stagflation and that the Federal Reserve could raise interest rates to 7%. Emphasizing that stagflation is the worst outcome economically, he warned: “If that happens, you’re going to see a lot of people struggling.”
Source:news.bitcoin.com
