Jamie Dimon, president and chief executive officer of Jpmorgan Chase & Co., talks about the New York economic club in Manhattan, New York, April 23, 2024.
Mike Fresh | Reuters
JPMorgan Chase CEO Jamie Dimon said Wednesday that he sees the US economy probably heading to the recession as President Donald Trump prices Roil financial markets.
With the trade war between the United States and China to intensify, Aggressively sold shares and obligations Again in the morning trade. Under the stock market market contracts have dropped and bond yields increased in the midst of concerns about financial and economic stability caused by the exchange of tit-form between the two nations.
“I think that probably (a recession is) a probable result,” said Dimon in the program “Mornings with Maria” by Fox Business.
Recession fears have increased to Wall Street while Trump's prices stimulate uncertainty about the distance from the trade war.
In the last development, China said it would take a price of 84% On all American goods, up 50 percentage points compared to the previous level, while American reciprocal tasks enter into force in the world. The term contracts on DOW were down more than 800 points while the 10 -year -old treasure yields are skyrocketed by almost 20 base points, or 0.2 percentage points.
JPMorgan economists are waiting US gross domestic product to contract 0.3% This year, a slight call for recession but coming after a strong year of growth.
“The markets are not always good, but sometimes they are right,” said Dimon. “I think that this time, they are right because they only make the pricing of uncertainty (at) the macro level and uncertainty (at) the micro level, at the real level of the company, then how it affects the feeling of consumers. It is difficult to say.”
In the past, Dimon has been a supporter of the prices.
During an interview in January with CNBC at the World Economic Forum in Davos, Switzerland, the executive said that people should “recover” concerning the prices And said that a little inflation was worth it to preserve national security.
On Wednesday, he encouraged the United States to conclude agreements with its business partners while warning that market reaction could worsen if this does not happen.
“Breathe deeply, negotiate trade agreements. This is the best thing they can do,” he said. “I take a calm view. But I think it could get worse if we are not progressing here.”
In addition, Dimon encouraged the Senate to confirm that the governor of the Fed Michelle Bowman as vice-president of supervision, supervising in chief of the banking and financial system. Bowman is ready for a confirmation audience on Thursday.
Fixed: an earlier version contained quotes poorly attributed to Jamie Dimon.
