Jamie Dimon warns US is likely to head into a recession in next 6-9 months

JPMorgan Chase CEO Jamie Dimon said the US economy was “actually still doing well” at present and consumers were likely to be in better shape compared to the 2008 global financial crisis when the world tips into recession.

The US economy is still better off than our European counterparts who are dealing with even higher inflation and a commodity crises. Dimon is not sure yet the severity of the recession and said factors play into it such as the ongoing war in Ukraine, which has recently seen a step up in activity.

Contrary to beliefs that higher interest rates are good for the banking sector, JPM shares are down roughly 33%.

Read more at:

CNBC