JPM - Jamie Dimon Says He Is 'Cautious About Everything' Amid Recession Fears: 'Always A Mistake To Look At Just The Year' | Benzinga
JPMorgan CEO Jamie Dimon has expressed his concerns about the U.S. economy, warning of a potential recession and the market’s underestimation of the risks.
What Happened: Dimon, speaking at the JPMorgan High Yield and Leveraged Finance Conference in Miami on Monday, cautioned that the U.S. might be on the brink of a recession. Despite this, he does not foresee any systemic issues, reported CNBC.
Dimon pointed out that there are concerns about certain factors and expressed disagreement with the high probability assigned to the economy avoiding a recession.
Dimon highlighted several factors that could impact the economy, including the market’s current pricing of a “soft landing,” the Federal Reserve’s quantitative tightening, and the U.S.’s fiscal spending deficits. He believes that these factors might play out over several years, potentially causing a significant impact.
"The market is kind of pricing in a soft landing. That may very well happen. But the [market's] odds are 70 to 80%. I'll give you half that, that's all," said Dimon, according to the report.
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Dimon’s comments come at a time when the market is reassessing its expectations for monetary policy. Futures traders, who previously predicted an aggressive series of interest rate cuts starting in ...