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Jamie Dimon says to be prepared for recession

today 11/30/2023
JPMorgan Chase CEO Jamie Dimon has warned Wall Street about the possibility of rising inflation and a potential recession. He expressed caution about the economy and stated that governments worldwide needing more money for various purposes could lead to inflation. Dimon also mentioned that the labor market in the US has been resilient but acknowledged that inflation is negatively impacting people. He attributed the economic "sugar high" caused by stimulus money and quantitative easing to fading. Additionally, Dimon highlighted geopolitical issues and their potential consequences on energy, food supply, trade, and global relationships. He emphasized the risks of war, nuclear proliferation, climate change, and another pandemic. Dimon stressed the importance of the United States maintaining a strong military and American leadership to preserve the unity of the Western world. Regarding business in China, he stated that JPMorgan Chase follows the guidance of the US government and does not view companies like Shein as a threat to national security. Dimon expressed confidence and stated that he is not afraid of China.
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