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The head of the largest US bank expects the US economy and the world economy to enter recession within 6-9 months

Jamie Dimon, CEO of JPMorgan Chase & Co., said “serious” headwinds could push the US and global economies into recession by the middle of next year.

Dimon added in an interview with CNBC that there are very dangerous things that could push the United States and the world into recession in 6-9 months, noting that Europe is already in recession.

The CEO of the largest US bank explained that while the US economy is doing well at the moment, there are a number of global indicators and concerns that are sounding the alarm, including the impact of higher inflation and higher-than-expected interest rates, as well as the impact of the Federal the reserve system that put an end to quantitative easing, as well as the Russian-Ukrainian war.

Dimon believes that the opportunities are many, and the place that will see a major split and perhaps more panic emerge could be the credit markets or one of the ETFs, it could be a country, or it could be something unlikely. that you have no doubt.

“If I were to make a list of all the previous crises, we would not be predicting here where they came from, although I think that this time it is possible to predict the likelihood that this will happen,” he said.

“If you need money, try to raise it now,” Damon advised.

“The next 20% is going to be a lot more painful than the first,” Dimon said, adding that “another 100 basis point hike in interest rates is a lot more painful than the first 100 because people aren’t used to it.”

Source: El Iktisad

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