Dimon Says – Jamie Dimon on the US Economy 💬

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Dimon Says – Jamie Dimon on the US Economy

The possible economic slowdown discussed has been noticed by many. So many factors are combining into one big melting pot, and the product might not be so inviting, according to Jamie Dimon. Dimon is the CEO of JPMorgan Chase, the largest of the big banks, and he is often very outspoken about the markets and the economy. Dimon said that he expects the US economy to fall into a recession anywhere in the next 6 to 9 months and that the global economy will follow. This is due to a mix of problems, including interest rates, inflation, and a worsening conflict in Ukraine after Russia recently escalated its attacks. As per the duration of the recession, he had no comments but warned of another 20 percent pullback in the S&P 500, which would bring markets back to May 2020 levels.

Dimon’s voice means a lot in the world of finance, so his statements had a negative impact on the markets. After what felt like a happy couple of weeks, economic data has come back as a slap in the face. New things seem to add on too, like the chip policy we discussed yesterday, which looks like it had a negative impact overall. For now, it looks like investors have priced in this week’s inflation report along with earnings season, which could go really bad or really good. If a trend is formed where earnings or inflation weren’t as bad as expected, investors could crawl out of the hole they are currently in and prevent a further decline. Get ready for a lot of volatility ahead and manage your portfolios in accordance with the situation.

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I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

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