JPMorgan Chase CEO Jamie Dimon spoke with “Face the Nation” moderator Margaret Brennan about the state of the economy and how geopolitical issues could play a role. He warned of a mild recession in 2023. Brennan joins CBS News’ John Dickerson on “Prime Time” with more on the interview.
#news #jpmorgan #economy
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BREAKING: Recession News
LEARN MORE ABOUT: Bank Failures
REVEALED: Best Investment During Inflation
HOW TO INVEST IN GOLD: Gold IRA Investing
JPMorgan Chase CEO Jamie Dimon has issued a warning about a potential “mild recession” in 2023. Speaking at the bank’s annual investor day conference, Dimon said that the US economy could experience a slowdown due to rising inflation and interest rates.
“We’re still bullish on the US economy for this year and next, but we have to be prepared for a mild recession in 2023,” Dimon said. “If you look at history, there are always these 10-year cycles, and we’re in the middle of one now. So, we have to be cautious and prudent in our approach.”
Dimon cited several factors that could contribute to a potential recession, including the Federal Reserve increasing interest rates to combat rising inflation, which could slow down borrowing and spending. He also pointed to the possibility of increased regulation on tech companies, which could lead to decreased investment and slower growth.
Despite these warnings, Dimon expressed confidence in JPMorgan Chase’s ability to weather any potential economic downturn. The bank has strong capital reserves and has been steadily increasing its digital capabilities in recent years.
“We’ve been through recessions before, and we know how to navigate them,” Dimon said. “Our focus is on continuing to invest in our businesses and serving our clients, even in challenging economic conditions.”
While Dimon’s warning of a potential recession may be concerning for some, it’s important to remember that economic forecasts are always subject to change. It’s impossible to predict with certainty what the economy will look like in 2023, and there are many factors that could impact its trajectory between now and then.
What is clear is that investors and businesses should always strive to be prepared for the possibility of economic downturns. By maintaining strong financial reserves and investing in adaptive strategies, they can weather the storms and emerge stronger on the other side.
Click here for more news from MoneyWatch: https://youtube.com/playlist?list=PLEb3ThbkPrFYgDkeTDyUZHDFkNV1hErBj
The recession already started a few months ago!
Sure, usery.
Geopolitics, Cyber attacks, liquidity crisis, deflation
They always downplay it. Remember Janet?
Whoa Margaret…that is not such a good combo you have on.
Does anyone think Dimon is personally affected by any of this?
why did they film this in the hood lol
That's what happens when the fed is used as the answer to inflation instead of congress stopping the corporate greed that is the ACTUAL cause of inflation. Blame the workers not the corporations that own our goverment
Jamie Dimon is a sideshow and is hawking pet rocks and other junk his bank sells. *That is given an AAA rating by these same ratings agencies. Like Lehman and AIG.
This is a great video, I learn alot watching your videos and it has been helpful to me. The most underrated skill in 2022 is being productive
I was able to build a big income stream investing with Mrs Elizabeth Wesley. You’ve changed my whole life, Thanks so much
keep up with the good videos.
Lower those interest rates, fed. We want our easy money. We want to be able to pad our books.
these IT and online shopping companies hired thousands during the pandemic. they are not needed anymore. amazons workforce doubled during the pandemic
Jamie is a liar! We are already in a recession, and he really meant a depression. Get Ready because it is on the way. #Prepare
Translation when said mild…it's more than mild
If business doesn’t thrive, it hurts America…..that sums up the whole Biden term so far.
not thriving
These are the dem muses telling us “news”
Maybe Katie Porter should have another white board tutorial with the Chase CEO again.
Recession for us, the Shareholders get a bonus.
We've been in a recession for 18 months already. This guy is nuts. Probably not afraid of much considering our crooked government will once again bail all these thieves out of financial jail.
When I was working at popcorn factory Orville Rockenbacker came in and stood beside me and everytime I would press the button to seal each bag of popcorn kernels, he would rub his teeth on me across my shoulder. So that's like 10,000 teeth rubs known as Duffing.
how small? will we loose everything?