
JPMorgan’s Dimon Says Stagflation Possible
JPMorgan Chase CEO Jamie Dimon says he’s hopeful the Federal Reserve can bring down inflation without causing a recession but wouldn’t rule out more troubling possibilities, such as stagflation.
JPMorgan Chase CEO Jamie Dimon says he’s hopeful the Federal Reserve can bring down inflation without causing a recession but wouldn’t rule out more troubling possibilities, such as stagflation.
With some investors and economists questioning whether the Federal Reserve can make good on interest rate cuts this year, the JPMorgan Chase CEO warned of the possibility of rates rising to 8 percent or higher.
JPMorgan CEO Jamie Dimon said the U.S. and the banking industry should amend regulations following the collapse of Silicon Valley Bank and Signature Bank last month, saying that the financial system needs to be adjusted so that one bank’s failure does not “cause undue panic and financial harm.”
Jamie Dimon laid out a laundry list of big risks looming for the global and U.S. economy in his letter to JPMorgan Chase shareholders on Monday.
The chief executives of the nation’s largest banks went in front of Congress for a second day Thursday, facing questions ranging from inflation to their efforts to keep Americans in their homes after government aid to pandemic-hit mortgage holders expires this summer.
While positive developments with the pandemic led JPMorgan Chase to release funds from its credit reserves, leading to record profits in the fourth quarter, the total credit reserves remain high.
As a single mother with a British accent who loves numbers, Marianne Lake bears little resemblance to Jamie Dimon, the longtime CEO of JPMorgan Chase & Co., known for his bravado, quips and occasional profanity-laced outbursts.
JPMorgan Chase & Co. CEO Jamie Dimon complimented the administration of President Donald Trump in his annual letter to shareholders on Thursday, saying tax cuts and deregulatory efforts are helping his bank make more money.
The stock of JPMorgan Chase & Co. has been climbing so much that “at a certain price,” the company may consider issuing a special dividend to distribute excess capital rather than buying back additional stock, CEO Jamie Dimon said on Tuesday.