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Thndr Claps » U.S. Claps » Economy 🏢 » JPMorgan CEO gives gloomy economic forecast🌪️

JPMorgan CEO gives gloomy economic forecast🌪️

by Shams Abbas
June 1, 2022

The Clap
JPMorgan CEO Jamie Dimon changed his economic forecast from “stormy clouds” to “hurricane”.

The deets
Dimon says soaring inflation, the war in Ukraine, & rising interest rates have made the economic hurricane “right out there down the road coming our way.” It’s just a matter of whether the hurricane will be a minor or significant one.

Rationale
Dimon is worried about the Fed winding down its balance sheet at the same time it’s aggressively raising interest rates. Dimon also believes crude oil prices could jump as high as $150-$175/barrel due to the war in Ukraine.

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