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'Headwinds Are Substantial': Jamie Dimon Just Flagged A Long List Of Serious Dangers To The US Economy — Here Are 3 'Salient' Risks And How To Defend Against Them





Wed, July 19, 2023 at 2:04 PM EDT



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JPMorgan Chase recently reported second-quarter results, with both revenue and earnings exceeding Wall Street's expectations. But CEO Jamie Dimon is erring on the side of caution.

"There are still salient risks in the immediate view," he said in the earnings press release.

"Consumers are slowly using up their cash buffers, core inflation has been stubbornly high — increasing the risk that interest rates go higher and stay higher for longer — quantitative tightening of this scale has never occurred, fiscal deficits are large and the war in Ukraine continues, which in addition to the huge humanitarian crisis for Ukrainians, has large potential effects on geopolitics and the global economy."


It's not a rosy picture. In the earnings conference call, Dimon added that "headwinds are substantial and somewhat unprecedented.
 
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