JPMorgan’s Jamie Dimon Says There’s a Much Bigger Worry Than Recession
JPMorgan Chase CEO Jamie Dimon said on Tuesday that the prospect of a recession isn’t the biggest problem facing the global economy and that he worries “much more” about geopolitical strife like the Russia–Ukraine conflict and U.S.–China tensions.
Dimon made the remarks at a premier investment conference in Riyadh, Saudi Arabia, on Oct. 25, alongside other top Wall Street bankers who discussed issues of concern to investors, including high inflation and aggressive central bank rate hikes to tame it.
Sky-high inflation and its stubborn grip caught many policymakers off guard. In their efforts to restore price stability in the face of shocks like the war in Ukraine, the Federal Reserve and many other central banks have rushed to pull back on easy money policies, embarking on aggressive rate hikes that are cooling demand. Some economists and market analysts fear this could catalyze a recession….