JP Morgan CEO Jamie Dimon has warned investors that problems could arise. In his note in the results report, he said:
- “Many economic indicators remain favorable. However, looking forward, we remain alert to a number of important uncertain forces. »
- “First, the global landscape is worrying: terrible wars and violence continue to cause suffering and geopolitical tensions are increasing. Second, there appears to be a lot of lingering inflationary pressure, which is likely to persist. Finally, we have never really felt the full effect of quantitative tightening on this scale.
- We don’t know how these factors will evolve, but we need to prepare the firm for a wide range of potential environments to ensure we can always be there for clients,” he said.
Dimon was careful. The comments are therefore not surprising. In the banking world, the CEO of the world’s largest bank wants to be more cautious. However, he also has his finger on the pulse of the economy, so it may not all be crying wolf.
The geopolitical risk is at stake today. Bloomberg reports:
- Israel is preparing for a possible attack by Iran, either directly or through its proxies, with drones and missiles on government targets within days
- One scenario would be an attack on Israel from Iranian soil, which would be unprecedented.
Israeli television reports that the US warship with defense capabilities is stationed off the coast of Israel.
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