JPMorgan CEO Jamie Dimon says there’s a chance the US is heading into ‘something worse’ than a recession via /r/wallstreetbets #stocks #wallstreetbets #investing


JPMorgan CEO Jamie Dimon says there’s a chance the US is heading into ‘something worse’ than a recession

JPMorgan Chase CEO Jamie Dimon estimated last week the probability that the US would head into a recession, according to a Yahoo Finance report published Saturday.

Dimon reportedly said on a client call Tuesday that the economy was “strong” but “storm clouds” were on the horizon, including federal monetary policies, Russia’s invasion of Ukraine, and rising oil prices. The categorization is an apparent downgrade from Dimon’s previous comments in June when he warned of an “economic hurricane.”

“Consumers’ balance sheets are in good shape,” he said, per the Yahoo report. “Businesses are equally in good shape. When you forecast, you have to think differently. It is a bad mistake to say, ‘Here is my single-point forecast.’

The CEO was said to have estimated the chances of a “soft landing” to be about 10% and the probability of a “harder landing” or “mild recession” to be closer to 20 to 30%. He also reportedly estimated a 20- to 30% chance of a “harder recession” and a 20- to 30% chance of “something worse.”

Read the full article: https://finance.yahoo.com/news/jpmorgan-ceo-jamie-dimon-told-163049048.html

JPMorgan CEO Jamie Dimon told wealthy clients there’s a chance the US is heading into ‘something worse’ than a recession

Submitted August 16, 2022 at 03:51PM by predictany007
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