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Jamie Dimon warns of risks to the US economy in 2024 and 2025

Jamie Cameron
18. 1. 2024
2 min read

The CEO of JPMorgan Chase, Jamie Dimon, issued a warning about the next two years,. What are these strong factors that can bring uncertainty to the economic environment?

The CEO JPMorgan Chase $JPM+0.0%, Jamie Dimon, has expressed caution about the outlook for the US economy over the next two years. In an interview with CNBC at the World Economic Forum ,he warned of a combination of financial and geopolitical risks that will affect the US in 2024 and 2025.

Dimon stressed that all of these risks include factors such as the situation in Ukraine, terrorist activity in Israel and the Red Sea region, as well as issues around quantitative tightening. By this, Dimon is referring to the Fed's actionsto cut the budget and regulate bond-buying programmes.

"I think it's a mistake to assume that everything is great. When stock markets go up, it's like a little drug that we all feel is just great. But remember, we've had so much fiscal monetary stimulus, so I'm a little more cautious."

Jamie Dimon, CEO of JPMorgan Chase

Even though the U.S. consumer remains plargely healthy thanks to good employment levels and savings during the pandemic, Dimon highlighted the potential impact of these factors on the economy. Caution is key, he saiddespite positive developments in the stock market, which has risen 19% over the past year.

JPM

JPMorgan

JPM
$180.93 $1.20 +0.67%
Capital Structure
Market Cap
519.6B
Enterpr. Val.
214.4B
Valuation
P/E
11.1
P/S
3.5
Dividends
Yield
2.3%
Payout
20.3%

The CEO Goldman Sachs $GS+0.0%, David Solomon, echoed the concerns about the US economy, especially regarding the rising debt levels. Solomon said that rising debt poses a significant risk and requires attention.

"I'm very concerned about rising debt. It's a big risk issue that we're going to have to deal with and reckon with, it just may not happen in the next six months."

David Solomon, Managing Director, Goldman Sachs

GS
$388.33 $3.81 +0.99%
Capital Structure
Market Cap
125.4B
Enterpr. Val.
179.2B
Valuation
P/E
16.8
P/S
2.8
Dividends
Yield
2.7%
Payout
52.8%

Dimon's warnings are consistent with his previous predictionswhen he warned in 2022 of an economic "hurricane" as a result of quantitative tightening and Ukrainian conflict.

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Source.

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