Major US Bank Boss Issues Grim Economic Warning
==========
JPMorgan Chase CEO Jamie Dimon issued a warning about a potential 'hard landing' for the US economy, citing concerns about stagflation and persistent inflation. Dimon made the comments in an interview with CNBC at the JPMorgan Global China Summit in Shanghai. He noted that while the consumer sector remains relatively strong, consumer confidence is notably low due to persistent inflation. Dimon also pointed out that the extra money from COVID-19 pandemic is fading, particularly among lower-income households. Looking ahead, Dimon suggested that interest rates could still rise slightly as inflation remains more persistent than anticipated.
#UsEconomy #JamieDimon #Inflation #Stagflation #ConsumerConfidence
https://www.newsweek.com/jpmorgan-chase-ceo-jamie-dimon-stagflation-warning-economy-hard-landing-1903927
Newsweek /
npub1ka…2agq5
2024-05-23 11:24:08
Author Public Key
npub1ka5jtasfg8rfe47ypj4x0a2d70fvaksu0u9z9rku70yc8hmjmu9sz2agq5Published at
2024-05-23 11:24:08Event JSON
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"content": "Major US Bank Boss Issues Grim Economic Warning\n==========\n\nJPMorgan Chase CEO Jamie Dimon issued a warning about a potential 'hard landing' for the US economy, citing concerns about stagflation and persistent inflation. Dimon made the comments in an interview with CNBC at the JPMorgan Global China Summit in Shanghai. He noted that while the consumer sector remains relatively strong, consumer confidence is notably low due to persistent inflation. Dimon also pointed out that the extra money from COVID-19 pandemic is fading, particularly among lower-income households. Looking ahead, Dimon suggested that interest rates could still rise slightly as inflation remains more persistent than anticipated.\n\n#UsEconomy #JamieDimon #Inflation #Stagflation #ConsumerConfidence\n\nhttps://www.newsweek.com/jpmorgan-chase-ceo-jamie-dimon-stagflation-warning-economy-hard-landing-1903927",
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