JP Morgan CEO Says A ‘Hurricane’ Is Coming For The U.S. Economy: ‘Brace Yourself’ (VIDEO)

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Whereas chatting with traders and analysts, JP Morgan CEO Jamie Dimon not too long ago mentioned {that a} hurricane is coming to the U.S. economic system.

Phrases like these will not be encouraging for the tens of millions of Individuals who’re already struggling financially, however that is the truth we face.

It’s a stark distinction from the way in which folks felt in regards to the economic system below Trump.

CNBC has details:

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Jamie Dimon says ‘brace your self’ for an financial hurricane brought on by the Fed and Ukraine warfare

JPMorgan Chase CEO Jamie Dimon says he’s getting ready the largest U.S. financial institution for an financial hurricane on the horizon and suggested traders to do the identical.

“You understand, I mentioned there’s storm clouds however I’m going to vary it … it’s a hurricane,” Dimon mentioned Wednesday at a monetary convention in New York. Whereas situations appear “high-quality” in the mean time, no person is aware of if the hurricane is “a minor one or Superstorm Sandy,” he added.

“You’d higher brace your self,” Dimon instructed the roomful of analysts and traders. “JPMorgan is bracing ourselves and we’re going to be very conservative with our steadiness sheet.”

Starting late final 12 months with high-flying tech names, shares have been hammered as traders put together for the tip of the Federal Reserve’s low-cost cash period. Inflation at multidecade highs, exacerbated by provide chain disruptions and the coronavirus pandemic, has sown worry that the Fed will inadvertently tip the economic system into recession because it combats value will increase…

“Proper now, it’s sort of sunny, issues are doing high-quality, everybody thinks the Fed can deal with this,” Dimon mentioned. “That hurricane is correct on the market, down the street, coming our method.”

Right here’s the video:

It’s a bit of scary to listen to a pacesetter within the monetary world say issues like this.

How dangerous are issues going to get?

Cross posted from American Lookout.

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