Global economic risks ‘could eclipse anything since second world war’, says JP Morgan boss

JP Morgan’s Jamie Dimon covered everything from politics and artificial intelligence to interest rates in his letter to investors.JP Morgan’s Jamie Dimon covered everything from politics and artificial intelligence to interest rates in his letter to investors.has warned that the world could be facing the most dangerous moment since the second world war, putting lives and economic growth at risk.

In a wide-ranging letter to investors covering everything from politics and artificial intelligence to interest rates, Dimon warned that the breakdown in international relations “may end up having virtually no effect on the world’s economy or it could potentially be its determinative factor”. Gita Gopinath, the IMF’s first deputy managing director, said at the time that the world was at a “turning point” as tensions mounted between the most powerful nations, and that the accelerating fragmentation of the world economy into regional power blocs – centred around the US and China – risked wiping out trillions of dollars in global output.

JP Morgan, he said, already had contingency plans in place for US interest rates – which are currently in a range of 5.25% to 5.5%Get set for the working day – we'll point you to all the business news and analysis you need every morning“We have ongoing concerns about persistent inflationary pressures and consider a wide range of outcomes to manage interest rate exposure and other business risks,” he added.

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