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Jamie Dimon says it is a ‘large mistake’ to assume economic system will growth with so many dangers on the market Receive US

Jamie Dimon, chairman and chief government officer of JPMorgan Chase & Co., speaks through the Institute of Worldwide Finance (IIF) annual membership assembly in Washington, DC, US, on Thursday, Oct. 13, 2022.

Ting Shen | Bloomberg | Getty Photographs

JPMorgan Chase CEO Jamie Dimon mentioned Monday that whereas the U.S. economic system is doing properly, it could be a “large mistake” to imagine that it’ll final for years.

Wholesome shopper stability sheets and rising wages are supporting the economic system, however there are dangers forward, together with central banks reining of their liquidity applications, the Ukraine battle, and governments world wide “spending like drunken sailors,” the chief mentioned.

Dimon, head of the most important U.S. financial institution by property, was talking at a monetary convention in New York.

“To say the buyer is robust at this time, so we’re going to have a booming surroundings for years is a big mistake,” he mentioned.

The world’s largest economic system has defied expectations for the previous 12 months, together with from prognosticators like Dimon. Final 12 months, he warned {that a} potential financial hurricane was on the way in which, citing the identical considerations round central banks and the Ukraine battle. However the U.S. economic system has confirmed resilient, main extra economists to count on {that a} recession could be averted.

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