EDITOR'S NOTE: By now you’ve probably seen JPMorgan CEO Jamie Dimon’s dire warning on Twitter. There’s a hurricane coming for the US economy, yet most Americans are still basking in the sunshine, confident that the Fed can somehow shift the winds or move the ground to dissipate the hurricane’s strength. Is this another sensationalist gesture, or does Dimon feel strongly enough about his forecast to announce a seeming alarmist position that goes against the grain of mainstream opinion? To put it into context, Dimon is not the only major figure in finance to sound the alarm. At the same time, there are plenty of major figures who claim the opposite is true. While Dimon might be taking on the demeanor of a risk manager (you wish for the best but thoroughly prepare for the worst), others seem to play the role of the optimist. Note that Dimon is at the helm of the largest bank in the US. That should give you something to think about as you position your own financial exposure to whatever lay ahead.
JPMorgan CEO Jamie Dimon says there's a "hurricane" coming for the US economy and that "you better brace yourself" https://t.co/InCDVUx7Cz pic.twitter.com/LWFzjhxWR1
— Bloomberg (@business) June 1, 2022
Originally published on Twitter via Bloomberg.
