This website collects cookies to deliver better user experience. Cookie Policy
Accept
Sign In
The Wall Street Publication
  • Home
  • Trending
  • U.S
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Markets
    • Personal Finance
  • Tech
  • Lifestyle
    • Lifestyle
    • Style
    • Arts
  • Health
  • Sports
  • Entertainment
Reading: CEO of JPMorgan warns US of financial destiny worse than recession: ‘The worst consequence’
Share
The Wall Street PublicationThe Wall Street Publication
Font ResizerAa
Search
  • Home
  • Trending
  • U.S
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Markets
    • Personal Finance
  • Tech
  • Lifestyle
    • Lifestyle
    • Style
    • Arts
  • Health
  • Sports
  • Entertainment
Have an existing account? Sign In
Follow US
© 2024 The Wall Street Publication. All Rights Reserved.
The Wall Street Publication > Blog > Economy > CEO of JPMorgan warns US of financial destiny worse than recession: ‘The worst consequence’
Economy

CEO of JPMorgan warns US of financial destiny worse than recession: ‘The worst consequence’

Editorial Board Published September 15, 2024
Share
CEO of JPMorgan warns US of financial destiny worse than recession: ‘The worst consequence’
SHARE

The opportunity of stagflation, or stagnation and inflation, shouldn’t be off the desk after August’s inflation numbers had been decrease than projected.

JPMorgan Chase CEO has laid out the “worst outcome” for America’s financial future, past recession.

“The worst outcome is stagflation,” mentioned Dimon. “And by the way, I wouldn’t take it off the table.”

68-year-old Jamie Dimon made his remarks on Tuesday on the Council of Institutional Buyers in New York.

Ticker Safety Final Change Change % JPM JPMORGAN CHASE & CO. 204.35 -2.30
-1.11%

INFLATION RISES 2.5% IN AUGUST, LESS THAN EXPECTED

JPMorgan Chase is the most important financial institution in the USA in response to Bankrate, with $3.4T in belongings.

Stagflation, a portmanteau of stagnation and inflation, refers to a state the place financial progress slows whereas inflation and unemployment rise.

The financial penalties of stagflation might trigger retirement financial savings to go down in addition to the inventory market to crash; it was final seen within the U.S. in the course of the Seventies, in response to Investopedia.

Jamie Dimon, Chairman and CEO of JPMorgan Chase, testifies throughout a Senate Banking Committee listening to on the Hart Senate Workplace Constructing on December 06, 2023 in Washington, DC. The committee heard testimony from the most important monetary establishments duri (Win McNamee/Getty Photographs)

Whereas inflation in August grew lower than anticipated at 2.5%, the outlook for the federal debt is bleak, with the rising quantity measuring $35,309,184,612,870.00 as of September 12.

CONSUMERS SEE INFLATION EASING, ANXIOUS ABOUT JOB MARKET, PERSONAL DEBT: NY FED SURVEY

Curiosity funds due in October on the nationwide debt now exceed the prices of each Medicare and the nationwide protection price range. Nationwide debt might contribute to additional inflation on the horizon.

That is the primary time in American historical past that curiosity funds on the nationwide debt have risen above $1T. 

“So, it’s hard to look at [it] and say, ‘Well, no, we’re out of the woods.’ I don’t think so,” mentioned Dimon.

JPMorgan CEO Jamie Dimon

Jamie Dimon, chairman and chief government officer of JPMorgan Chase & Co., speaks throughout an Financial Membership of New York (ECNY) occasion in New York, US, on Tuesday, April 23, 2024. Dimon met with executives from the World Financial institution Group and a number of other different (Victor J. Blue/Bloomberg by way of Getty Photographs / Getty Photographs)

Whereas inflation has fallen to virtually hit the Fed’s final purpose of two%, a report shared by the Federal Reserve Financial institution of New York on Monday reveals that customers’ views in the marketplace had been general blended.

Individuals responded that they anticipate each their spending numbers to go up by 5% however their family incomes to solely rise by 0.1 proportion factors from final yr within the survey.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

In keeping with CNBC reporting from August, Dimon believes stagflation’s future chances are round 35 %, that means that recession is extra probably.

JPMorgan shares have gained over 18% this yr, inline with the S&P 500’s rise.

TAGGED:CEOeconomicfateJPMorganoutcomerecessionwarnsworseworst
Share This Article
Twitter Email Copy Link Print
Previous Article The place are the roles? Current research ranks high cities The place are the roles? Current research ranks high cities
Next Article Kyle Chrisley Accused of STABBING Man Previous to Latest Arrest Kyle Chrisley Accused of STABBING Man Previous to Latest Arrest

Editor's Pick

Pleasure parade cancelled after being halted by pro-Palestinian protesters

Pleasure parade cancelled after being halted by pro-Palestinian protesters

Ottawa’s annual Pleasure parade was cancelled on Sunday after it was halted by a native pro-Palestinian advocacy group that blocked the…

By Editorial Board 5 Min Read
Learn This Earlier than Shopping for a Window Air Conditioner
Learn This Earlier than Shopping for a Window Air Conditioner

As is the case for many individuals, my dwelling can't be retrofitted…

11 Min Read
Save 20 % on Our Favourite Earbuds for Android
Save 20 % on Our Favourite Earbuds for Android

Trying to improve your wi-fi earbuds with out reaching deep into your…

3 Min Read

Oponion

18 councils pursuing or contemplating authorized motion to dam asylum accommodations | Politics Information

18 councils pursuing or contemplating authorized motion to dam asylum accommodations | Politics Information

The choice of Epping Council to take authorized motion in…

August 23, 2025

Meghan Markle Would possibly Lastly Permit King Charles to See Her Youngsters

Meghan Markle would possibly quickly enable…

November 1, 2024

Bay Space metropolis nonetheless working diligently to maintain Valero refinery

Three months after Valero Refining Firm-California…

July 24, 2025

Asking Eric: I’m surprised at my nephew’s excessive response to my humorous Fb publish

Pricey Eric: My brother died too…

September 29, 2024

Single household residence sells for $1.9 million in Alameda

Bay Space House Report 1216 Fountain…

January 4, 2025

You Might Also Like

Trump asks court docket to permit elimination of Fed’s Lisa Prepare dinner instantly; choose units fast schedule
Economy

Trump asks court docket to permit elimination of Fed’s Lisa Prepare dinner instantly; choose units fast schedule

A choose will hear arguments within the Lisa Prepare dinner firing case because the Fed governor faces mortgage fraud allegations.…

7 Min Read
Fed’s favored inflation gauge reveals shopper value pressures remained elevated in July
Economy

Fed’s favored inflation gauge reveals shopper value pressures remained elevated in July

Former Kansas Metropolis Federal Reserve President and CEO Thomas Hoenig joins Mornings with Maria to debate Federal Reserve Chair Jerome…

2 Min Read
Mortgage charges fall to 10-month low
Economy

Mortgage charges fall to 10-month low

FOX Enterprise’ Gerri Willis studies on a rise in older Individuals renting on 'Varney & Co.' Mortgage charges fell to…

4 Min Read
US economic system grew at a quicker tempo in Q2 following Commerce Division revision
Economy

US economic system grew at a quicker tempo in Q2 following Commerce Division revision

Former J.P. Morgan Chase chief economist Anthony Chan discusses whether or not President Donald Trumps insurance policies will decelerate the…

2 Min Read
The Wall Street Publication

About Us

The Wall Street Publication, a distinguished part of the Enspirers News Group, stands as a beacon of excellence in journalism. Committed to delivering unfiltered global news, we pride ourselves on our trusted coverage of Politics, Business, Technology, and more.

Company

  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • WP Creative Group
  • Accessibility Statement

Contact

  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability

Term of Use

  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices

© 2024 The Wall Street Publication. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?