Jamie Dimon, CEO of JPMorgan Chase, the largest bank in the United States, expressed significant concerns about the global economic future during the release of the company’s first quarter financial results. According to Dimon, the main threats include persistent inflation and the increase in new violent conflicts, which represent an uncertain global scenario.
During a conference call with journalists, Dimon highlighted that, despite many economic indicators showing a favorable trend, the horizon brings with it substantial uncertainties. “The global picture is disturbing – terrible wars and violence continue to cause suffering and geopolitical tensions are rising,” said Dimon. He also highlighted that inflation shows signs of being a lasting and worrying pressure on the world economy.
In addition to these factors, Dimon pointed to the unprecedented experience related to large-scale quantitative tightening. “We have never truly experienced the full effect of quantitative tightening on this scale. We don’t know how these factors will play out, but we must prepare the Company for a wide range of potential environments to ensure we can be consistently there for customers,” he explained.
The CEO of JPMorgan also commented on the war between Russia and Ukraine, mentioning that the outcome of the conflict could have a decisive impact on the global economy, especially if gas and oil prices escalate out of control.
Regarding the stock market, Dimon suggested that there is excessive optimism, possibly ignoring the risks of a significant downturn. “I think the markets are probably ‘too happy,’ and the odds of a major market downturn and a stagnant economy are ‘higher than other people think,’” he expressed.
Dimon’s statements coincided with a 6.4% drop in JPMorgan shares on the Friday following the announcement of financial results, with net interest income recording a 4% decrease from the previous quarter to reach $23 .1 billion.
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Source: https://portalcripto.com.br/ceo-do-jpmorgan-aponta-inflacao-e-conflitos-como-desafios-globais-para-o-mercado/
