JPMorgan CEO Jamie Dimon: US-China Tensions, Russia-Ukraine War ‘Far More Concerning’ Than Recession

JPMorgan Chase CEO Jamie Dimon says the tensions betwixt the U.S. and China and the Russia-Ukraine warfare are “far much concerning than whether there’s a mild oregon somewhat terrible recession.” He stressed: “I would interest overmuch much astir the geopolitics successful the satellite today.”

JPMorgan Boss Jamie Dimon Warns of Something ‘Far More Concerning’ Than Recession

The CEO of JPMorgan Chase, Jamie Dimon, talked astir thing worse than an economical recession Tuesday astatine Saudi Arabia’s Future Investment Initiative league successful Riyadh, an yearly lawsuit sometimes dubbed “Davos successful the Desert.” Approximately 400 American executives are attending the league on with European and Asian concern leaders.

Dimon explained that helium considers geopolitical uncertainties to beryllium overmuch riskier than a recession, noting that they are among the biggest concerns facing the planetary system close now. The JPMorgan enforcement opined:

The astir important happening is the geopolitics astir Russia and Ukraine, America and China, relationships of the Western world. That to maine would beryllium acold much concerning than whether there’s a mild oregon somewhat terrible recession.

The JPMorgan main added that a recession is not the astir important happening JPMorgan thinks about. “We’ll negociate close done that,” helium emphasized. “I would interest overmuch much astir the geopolitics successful the satellite today.”

Nonetheless, helium cautioned: “There’s a batch of worldly connected the skyline which is atrocious and could — not needfully — but could enactment the U.S. successful recession.” Dimon antecedently warned of an economic hurricane and something worse than a recession. He precocious said that the U.S. system could beryllium successful a recession successful six months.

The relationships betwixt the Biden medication and Saudi enactment are astatine a debased point. The Saudis orchestrated an lipid accumulation chopped earlier this period with OPEC+, the shaper radical comprising the Organization of the Petroleum Exporting Countries (OPEC) positive allies including Russia. President Joe Biden pledged that “there volition beryllium consequences” for U.S. relations with Saudi Arabia aft OPEC+ said it would chopped its lipid accumulation people by 2 cardinal barrels per day. Crown Prince Mohammed bin Salman reportedly mocked Biden Monday.

The JPMorgan CEO believes that the U.S. and Saudi Arabia volition beryllium capable to enactment done their caller tensions. However, helium warned against America’s “everything our way” argumentation Tuesday, elaborating:

The American argumentation doesn’t person to be: ‘Everything our way’ … I can’t ideate immoderate allies agreeing connected everything. They volition enactment it done and I’m comfy folks connected some sides are moving done and these countries volition stay allies going forward.

What bash you deliberation astir the comments by JPMorgan CEO Jamie Dimon? Let america cognize successful the comments conception below.

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