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Jamie Dimon Says JPMorgan Is Bracing Itself for Economic ‘Hurricane’

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Reuters

WRAPUP 4-Dimon says brace for U.S. economic ‘hurricane’ due to inflation

Jamie Dimon, Chairman and Chief Executive of JPMorgan Chase & Co described the challenges facing the U.S. economy akin to an “hurricane” down the road and urged the Federal Reserve to take forceful measures to avoid tipping the world’s biggest economy into a recession. Dimon’s comments come a day after President Joe Biden met with Federal Reserve Chair Jerome Powell to discuss inflation, which is hovering at 40-year highs. “It’s a hurricane,” Dimon told a banking conference, adding that the current situation is unprecedented.

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