Business leader, billionaire and JPMorgan Chase CEO Jamie Dimon issued a serious warning for the economy next year.
Finish the story after this video:
Dimon told CNBC that a recession could hit next year because of inflation.
JPMorgan CEO Jamie Dimon tells @SquawkCNBC that inflation could tip the U.S. economy into recession next year. https://t.co/Xf0pyH1it2 pic.twitter.com/cv4tdqX2EK
— CNBC (@CNBC) December 6, 2022
He pointed to mixed economic indicators, saying Americans have more money in their bank accounts and business are doing well but higher interest rates are coming and international conflict remains a threat.
“When you are looking out forward, those things may very well derail the economy and cause this mild to hard recession that people are worried about, but far more important than all that is all the geopolitical stuff,” Dimon said.
He also had a piece of advice for the Federal Reserve.
“The Fed has made it clear they’re going to get to 5% and stay for a while,” he said.
Dimon’s comments sparked reaction online.
I love this: “May cause Recession…” WAKE UP….
Come out of your castle….It’s already here…Jamie Dimon says inflation eroding consumer wealth may cause recession next year https://t.co/7cWhpsgVOc— Kenny Polcari (@KennyPolcari) December 6, 2022
Jamie Dimon will eventually be right. But he has been predicting this recession for a long while now. https://t.co/6ZA7HJE8iR
— (((Howard Forman))) (sarcasm/parody) (@thehowie) December 6, 2022
It’s a fair guess to say that after Americans get their pent-up, post-COVID Christmas spending spree credit card bills, they will really cut back in 2023. This is especially true as they will face much higher credit card interest rates. https://t.co/f8JDaiyCYD
— Jake Novak (@jakejakeny) December 6, 2022
Inflation is through the roof and we are in a recession. In addition to getting squashed at the pump and in the grocery store, 529 plans for kids education and 401k plans for retirement are getting crushed.
WE NEED NEW LEADERSHIP IN WASHINGTON!!!
https://t.co/P6shwPsip3— Anthony Hardenburgh (@JAHardenburgh) December 6, 2022
CHECK OUT TRISH REGAN’S PODCAST HERE.Â
