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JPMorgan Chase ceo jamie dimon He has said that he is more worried than many of his peers about the prospects of an impending U.S. stock market crash.
Speaking to BBC Business Editor Simon Jacks, On Thursday, Dimon was asked about the results of the presidential donald trumpThe tariff war, a topic on which he has been largely vague this year.
“Now, I’m talking about probabilities. I would rate it higher than what the market and others are estimating. So, if the market is pricing in 10 percent of the upside, I would say, it’s over 30 percent.”
Dimon declined to predict exactly when the crash might occur, suggesting it could happen within six months or two years, but he said: “The amount of uncertainty — and I put geopolitics in that category, fiscal spending in that category, politics in that category, remilitarization of the world in that category — all of those things match up.
“There are a lot of issues that we don’t know how they will be resolved. So I’d say the level of uncertainty in most people’s minds should be higher than what I would call normal.”
a day before, Kristalina GeorgievaSimilarly, the Managing Director of the International Monetary Fund saw Although the global economy has shown resilience in the face of Trump’s rollercoaster tariff program, consumers should: “Buck up: Uncertainty is the new normal.”
In September, Dimon expressed pessimism About Trump’s economy, noting that the jobs report indicates a stable hiring market inflation Prices remain high in many areas.
he told Office Hours: Professional Edition Podcast That President’s Full Impact Tariff had not yet been seen, noting: “People are expecting these things to happen right away. But in reality, a lot [the effects of the tariffs] Has not happened [yet],
In a separate appearance on CNBC, Dimon did not guarantee his April prediction that a recession is coming – But he still said that the economy is going downwards.
“I think the economy is weakening,” he said. “Whether it’s headed for a recession or just weakening, I don’t know.”
Dimon further stated that he believes consumer confidence is falling and that even more dramatic cuts in interest rates will be made federal Reserve That may not have the effect the White House desired: a surge in economic activity.
“There are a lot of different factors at play in the economy right now,” he said. “We’ll just have to wait and see.”
Dimon’s April warning about tariffs reportedly led to this icy relations With the Trump administration, that calmed down only when the leader of America’s largest bank met the president in person for a series of private meetings.