JPMorgan Chase's CEO Jamie Dimon sees chance that U.S. economic numbers will deteriorate soon!
"I think there's a real chance numbers will deteriorate soon," such as in the U.S. labor market, JPMorgan Chase (NYSE:JPM) Chairman and CEO Jamie Dimon said on Tuesday. He noted tectonic shifts in such things as trade and geopolitics. "There's a lot of moving parts," he added.
"We see it a little bit today," he said at the Morgan Stanley US Financials Conference. "The tariffs are hitting." He's expecting bigger impacts coming in "maybe July, August, September, October....hopefully, it will not be dramatic. Maybe it'll be a little softer of a soft landing."
"None of it is material yet," he added. The consumer side of the business relies on employment.
"If inflation rears its ugly head, or you see stagflation, that will shock people," Dimon said.
Regarding bank regulation, Dimon railed against overly complicated rules that don't assess the real risks. "CCAR is dead wrong." Regulators should look at the global competitiveness, he said.
"If I ran the FDIC, me and my CEO friends, we would reduce the risk that people are taking on interest-rate exposure," he said. "Then you try to improve and fix regulation." He said he's not looking for "radical stuff" in changing regulations, but he does hope they are improved and fixed.
CONTINUED…
READ THE MSN.COM ARTICLE HERE!
Feel free to share with friends and colleagues!
Dimon’s tone is cautious but revealing—when the head of the largest U.S. bank starts flagging potential labor market softening and inflation risk, it’s worth paying attention.