JPMorgan Chase’s chief executive Jamie Dimon warned that the US economy was facing “considerable turbulence” as market tumult boosted the Wall Street bank’s trading business at the start of 2025.
Dimon sided with his bank’s economists that the odds of a recession were 50/50. US President Donald Trump earlier this week cited the views of the JPMorgan boss as influencing his thinking around tariffs.
“The economy is facing considerable turbulence (including geopolitics), with the potential positives of tax reform and deregulation and the potential negatives of tariffs and ‘trade wars’, ongoing sticky inflation, high fiscal deficits and still rather high asset prices and volatility,” Dimon said.
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