Jamie Dimon , CEO of US bank JPMorgan, believes that a recession is still possible in the US. Speaking at the Australian Financial Review Business Summit in Sydney, Dimon stated that the world expects a soft landing, but he believes the chance of that happening in the next one to two years is only 50%. He also warned of the worst-case scenario of stagflation.
Dimon attributed the distortion of economic indicators to Covid-19 and urged the US Federal Reserve to wait for more clarity before cutting interest rates. He emphasized that the current low unemployment rate and rising wages in the US do not eliminate the risk of a recession
Jamie Dimon Jpmorgan Recession US Economy Covid-19 Interest Rates Unemployment Wages