'That hurricane is right out there down the road coming our way,' said JPMorgan CEO Jamie Dimon. recession inflation
JPMorgan CEO Jamie Dimon Warns of Incoming Economic Hurricane — Says 'You Better Brace Yourself'
“It’s a hurricane,” Dimon exclaimed. While noting that “Right now it’s kind of sunny, things are doing fine, everyone thinks the Fed can handle it,” the JPMorgan executive stressed: The JPMorgan chief 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 bracing ourselves and we’re going to be very conservative with our balance sheet.”
He explained that central banks “don’t have a choice because there’s too much liquidity in the system … They have to remove some of the liquidity to stop the speculation, reduce home prices and stuff like that.”
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