Tags: jamie dimon | recession | jpmorgan chase | economic hurricane

JPMorgan CEO Dimon Warns of Recession in 6 to 9 Months

JPMorgan CEO Dimon Warns of Recession in 6 to 9 Months
Jamie Dimon, CEO of JPMorgan Chase, testifies before the Senate during its annual hearing on oversight of the largest banks in the U.S., Sept. 22, 2022. (Tom Williams/AP)

Monday, 10 October 2022 02:56 PM EDT

JPMorgan Chase & Co. Chief Executive Jamie Dimon said on Monday the United States and the global economy could tip into a recession by the middle of the next year, CNBC reported.

Runaway inflation, big interest rates hikes, the Russian invasion of Ukraine and the unknown effects of the Federal Reserve's quantitative tightenting policy are among the indicators of a potential recession, Dimon said, according to the report.

"These are very, very serious things which I think are likely to push the U.S. and the world — I mean, Europe is already in recession — and they're likely to put the U.S. in some kind of recession six to nine months from now," Dimon said in an interview with CNBC.

His comments come as the big U.S. banks are set to report their third-quarter earnings from Friday. So far this year, the benchmark S&P 500 index has lost about 24%, with all three major U.S. indices trading in bear market territory.

Also on CNBC's "Squawk Box" on Monday, hedge fund billionaire Paul Tudor Jones said the U.S. economy is either already in a recession or on the cusp of one. Jones added that stocks and other types of investments will lose additional value this year.

In June, Dimon warned investors to brace for an economic "hurricane," with JPMorgan, the biggest U.S. investment bank, suspending share buybacks in July after missing quarterly Wall Street expectations.

World Bank President David Malpass and International Monetary Fund Managing Director Kristalina Georgieva have also warned of a growing risk of global recession and said inflation remained a problem after Russia's invasion of Ukraine.

© 2025 Thomson/Reuters. All rights reserved.


StreetTalk
JPMorgan Chase & Co. Chief Executive Jamie Dimon said on Monday the United States and the global economy could tip into a recession by the middle of the next year, CNBC reported on Monday.
jamie dimon, recession, jpmorgan chase, economic hurricane
267
2022-56-10
Monday, 10 October 2022 02:56 PM
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