Jamie Dimon, chief executive officer of Jpmorgan Chase & Co., speaks at the national retirement summit of 2025 in Washington, DC, United States, Wednesday March 12, 2025.
Al Drago | Bloomberg | Getty images
The CEO of JPMorgan Chase, Jamie Dimon, said on Wednesday that he saw the American economy probably heading to the recession when President Donald Trump’s prices are financial markets.
With the intensification of the intensification of the United States and China, shares and obligations have once again sold aggressively in the morning trade. Under the stock market market contracts have dropped and bond yields increased in the midst of concerns about financial and economic stability caused by the exchange of tit-form between the two nations.
“I think that probably (a recession is) a probable result, because the markets, I mean, when you see a decrease of 2000 points (in the industrial average of Dow Jones), it feeds on itself, is not it,” said Dimon on the Fox Business show “Morning With Maria”. “This gives you the impression of losing money in your 401 (K), you lose money in your boarding. You have to reduce.”
Recession fears have increased to Wall Street while Trump’s prices stimulate uncertainty about the distance from the trade war.
In the latest development, China said it would take a price of 84% on all American products, up 50 percentage points compared to the previous level, because American reciprocal tasks take effect in the world. The term contracts on DOW were down more than 800 points while the 10 -year -old treasure yields are skyrocketed by almost 20 base points, or 0.2 percentage points.
JPMorgan economists expect the US gross domestic product to contract 0.3% this year, a slight call for recession but coming after a high year of growth.
“The markets are not always good, but sometimes they are right,” said Dimon. “I think that this time, they are right because they only make the pricing of uncertainty (at) the macro level and uncertainty (at) the micro level, at the real level of the company, then how it affects the feeling of consumers. It is difficult to say.”
In the past, Dimon has been a supporter of the prices.
During an interview in January with CNBC at the World Economic Forum in Davos, Switzerland, the executive said that people should “recover” concerning the prices and said that a little inflation was worth it to preserve national security.
On Wednesday, he encouraged the United States to conclude agreements with its business partners while warning that market reaction could worsen if this does not happen.
“Breathe deeply, negotiate trade agreements. This is the best thing they can do,” he said. “I take a calm view. But I think it could get worse if we are not progressing here.”
In addition, Dimon encouraged the Senate to confirm that the governor of the Fed Michelle Bowman as vice-president of supervision, supervising in chief of the banking and financial system. Bowman is ready for a confirmation audience on Thursday.
