THELOGICALINDIAN - JPMorgan CEO Jamie Dimon has warned that an bread-and-butter blow is advancing You bigger brace yourself he brash We aloof dont apperceive if its a accessory one or Superstorm Sandy
Jamie Dimon on the U.S. Economy and QT
The CEO of JPMorgan & Chase, Jamie Dimon, warned about an admission bread-and-butter blow Wednesday at a banking appointment sponsored by Alliancebernstein Holdings.
“It’s a hurricane,” Dimon exclaimed. While acquainted that “Right now it’s affectionate of sunny, things are accomplishing fine, anybody thinks the Fed can handle it,” the JPMorgan controlling stressed:
The JPMorgan arch said in May that there were “storm clouds.” However, he has now revised his forecast. “I said there’s storm clouds, they’re big storm clouds, they’re — it’s a hurricane,” he cautioned. “JPMorgan is animating ourselves and we’re activity to be actual bourgeois with our antithesis sheet.”
Dimon is anxious about several key issues. Firstly, the Federal Reserve is accepted to about-face its emergency bond-buying programs and compress its antithesis sheet, and the quantitative abbreviating (QT) is appointed to activate this month.
The JPMorgan bang-up opined:
He explained that axial banks “don’t accept a best because there’s too abundant clamminess in the arrangement … They accept to abolish some of the clamminess to stop the speculation, abate home prices and being like that.”
Dimon is additionally afraid about the Russia-Ukraine war and its appulse on commodities, including aliment and fuel. He warned that oil could potentially hit $150 to $175 a barrel.
Warning that “wars go bad” and there are “unintended consequences,” the controlling stressed:
Last month, Dimon told Bloomberg that the Federal Reserve should accept confused eventually to accession absorption rates. He accepted that he is afraid about the Fed starting a recession.
A growing cardinal of bodies accept afresh warned of a recession, including the Big Short broker Michael Burry, Allianz’s arch bread-and-butter adviser Mohamed El-Erian, and Tesla CEO Elon Musk.
Blackrock, the world’s better asset administrator with about $10 abundance beneath management, afresh explained: “If they [the Fed] backpack absorption ante too much, they accident triggering a recession. If they bind not enough, the accident becomes delinquent inflation.”
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