Mar 6, 2023
Dimon says China relations, war in Ukraine are his top concerns
No need to make big bets in this market just yet: Strategist
The war in Ukraine and relationships with China are among the top concerns facing the economy, Jamie Dimon said.
“The thing I worry the most about is Ukraine,” JPMorgan Chase & Co.’s chief executive officer said Monday on Bloomberg Television. “It’s oil, gas, the leadership of the the world, and our relationship with China — that is much more serious than the economic vibrations that we all have to deal with on a day to day basis.”
Dimon said last month that the U.S. economy was still performing well, with strength in consumer spending and plentiful jobs. But he warned there is still “some scary stuff” to overcome before the economy is out of danger.
Among the other risks Dimon has cited is more restrictive monetary policy.
As for interest rates, Dimon said last month that policymakers will probably have to take a pause in their program of interest-rate increases, but then would have to resume them in the fight against inflation. He has said the Federal Reserve may have to raise borrowing costs higher than many economists are predicting.