Jamie Dimon, Chairman and Chief Executive Officer (CEO) by JPMorgan Chase & Co. (JPM), talks to the Economic Club of New York in Manhattan in New York City, USA on April 23, 2024.
Mike Frisch | Reuters
JPmorgan Chase CEO Jamie Dimon said on Wednesday that he saw that the US economy is probably kept up to date as a recession as President Donald Trump's tariffs in the financial markets.
With the trade war between the United States and China, shares sold and bonds sold in the morning trade again aggressively. The stock exchange futures sag and the bond delivers in relation to the financial and economic stability, which was caused by the tit-for-act exchange between the two nations.
“I probably think [a recession is] A probable result, “said Dimon in Fox Business” Tomorrow with Maria “Show.
The fears of the recession rose on Wall Street when the Trump tariffs encourage uncertainty about how far the trade war will escalate.
In the recent development, China will provide information on all US goods that increase a tariff of 84% that increase 50 percentage points from the previous level, since the US present tasks are effective worldwide. The Dow Futures were more than 800 points, while the 10-year-old state treasury rose by almost 20 basis points or 0.2 percentage points.
JPMorgan economists expect the gross domestic product to summarize 0.3% this year, a slight recession call, but after a strong growth year.
“The markets are not always right, but sometimes they are right,” said Dimon. “I think you are right this time because you only praise uncertainty [at] Macro level and uncertainty [at] The Micro level at the actual company level and then how it affects consumer mood. It's hard to say. “
In the past, Dimon was a supporter of tariffs.
During a January interview with CNBC in the World Economic Forum in Davos, Switzerland, the executive said that people should “get over the tariff” and a small inflation would be worthwhile to preserve national security.
On Wednesday, he encouraged the United States to do business with its trading partners and at the same time to warn that the market reaction could deteriorate if this is not the case.
“Breathe in deeply, negotiate some trade agreements. It's the best you can do,” he said. “I see a quiet view. But I think it could get worse if we don't make progress here.”
Regardless of this, Dimon encouraged the Senate, the governor of FED, Michelle Bowman, as deputy chairman for surveillance, the main viewer of the bank and financial system. Bowman is a hearing for confirmation on Thursday.
Correction: An earlier version contained quotes that Jamie Dimon was incorrectly prepared.
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