(TNND) — JPMorgan Chase CEO Jamie Dimon warned that the US economic system is probably going heading towards a recession attributable to President Donald Trump’s tariffs, but in addition expressed hope that the tariffs could possibly be resolved rapidly.
In an interview on Fox Business, Dimon said, “We’ve the most effective economic system on the planet.”
Nevertheless, in a latest letter to shareholders, Dimon struck a extra cautious tone, warning that commerce wars initiated by the Trump administration might result in increased costs in American shops, weaken world alliances, and sluggish financial progress.
JPMorgan Chase has up to date its recession projection, growing the probability from 40 % to 60 %.
Dimon wrote, “Whether or not or not the menu of tariffs causes a recession stays in query, however it should decelerate progress.”
