JPMorgan Chase CEO Jamie Dimon has sounded the alarm on escalating geopolitical risks, urging the US to prepare for a protracted conflict between Ukraine and Russia. Dimon emphasized that global tensions are worsening and there's an increased risk of accidents in energy supply.
A year after Jamie Dimon named geopolitics the world's biggest risk, JPMorgan Chase's CEO sounded the alarm again.
"Geopolitics is getting worse, they are not getting better," Dimon said in an interview with CNBC-TV18.24/7 New York news stream: Watch NBC 4 free wherever you are "Geopolitics is getting worse, they are not getting better. There is chance for accidents in energy supply. God knows if other countries get involved. You have a lot of war taking place right now," he said, before referencing attacks conducted by Yemen's Houthi rebel group that have taken place in the Red Sea.
Geopolitical instability"is my biggest caution," Dimon said. He also urged the U.S. to prepare for a prolonged war between Ukraine and Russia.The interview came almost a year after Dimon had called geopolitics, after Russia's invasion in Ukraine, the biggest risk that he sees facing the world, larger than high inflation or a U.S. recession.Following a lengthy period of sticky inflation, the Federal Reserve last Wednesday made a jumbo rate cut, its first cut since March 2020.
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