Jamie Dimon says a US recession is still possible
EJ Antoni, a senior fellow at Unleash Prosperity, has announced the Republican tax bill and Varney & Co. We analyze the state of the US economy.
JPMorgan Chase CEO Jamie Dimon On Thursday, he warned that a potential recession could still occur as the economy is heavily disrupted from Trump administration’s tariffs.
Dimon attended the company’s annual Global Market Conference, Bloomberg TV Interview He hopes the economy will dodge the recession, but that will still be a possible outcome.
“Hopefully we’ll avoid that, but at this point we won’t let it go off the table,” Dimon said. “If there’s a recession, we don’t know how much it will grow or how long it will last.”
Dimon’s remarks come after JP Morgan Economist lowers estimates Probability of a recession From 60% before tariffs temporarily fell in China to less than 50% after the suspension. Dimon himself warned that the recession was a “probable outcome” for the US economy before the suspension.
JP Morgan reduces the likelihood of a recession after Trump’s tariff ceasefire
JPMorgan Chase CEO Jamie Dimon said he is still seeing the possibility that the US economy could fall into a recession. (Al Drago/Bloomberg via Getty Images)
Dimon said that Uncertainty created by customs duties As volatility continued, some of the company’s clients have been forced to refrain from investing.
The market gathered later Trump administration The Chinese government has also agreed to temporarily lower 145% of Chinese products and 125% of US exports to 30% and 20%, as negotiations continue over long-term contracts.
“I think that’s the right thing to do – to set back some of those things,” Dimon said of the suspension of tariffs for negotiations, adding that both sides should “hase a compelling conversation.”
CEOs of major banks consider Trump’s tariffs: “Substantial turbulence”
Customs duties are taxes on imports usually paid by importers who pass higher costs to consumers at higher prices. (Qian Weizhong/VCG via Getty Images)
He told the outlet it increased the likelihood that tariffs would decrease. Investing in the US“It’s a little. We irritate a lot of people. I run into them, they say you know, they haven’t bought our Kentucky bourbon.”
Despite the uncertainty and tensions created by the tariffs, Dimon said the US is still a great place to invest.
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“Is America a bad investment destination? No. If you take all the money and put it in one country, it’s still America,” he said.