JP Morgan CEO Dimon: “This may be the most dangerous time the world has seen in decades”

JP Morgan CEO Jamie Dimon noted on the firm’s Q3 earnings release

  • the war in
    Ukraine compounded by last week’s attacks on Israel may have far-reaching
    impacts on energy and food markets, global trade, and geopolitical relationships.
  • This may be the most dangerous time the world has seen in decades.
  • While we
    hope for the best, we prepare the Firm for a broad range of outcomes

On economic and monetary/fiscal policy issues:

  • Currently, U.S. consumers and businesses generally remain
    healthy, although, consumers are spending down their excess cash buffers.
  • However, persistently tight labor markets as well as extremely high government
    debt levels with the largest peacetime fiscal deficits ever are increasing the risks
    that inflation remains elevated and that interest rates rise further from here.
  • Additionally, we still do not know the longer-term consequences of quantitative
    tightening, which reduces liquidity in the system at a time when market-making
    capabilities are increasingly limited by regulations.

This article was written by Eamonn Sheridan at Source