Overview

• Dimon told Bloomberg he still sees a U.S. downturn as possible in 2026 and said JPMorgan would navigate any slump to serve clients.
• He said he is a little more nervous that inflation may not ease as expected, with consumer prices up 2.9% year over year in August.
• He called the ongoing government shutdown a bad idea and said past episodes did not materially affect markets or the broader economy.
• Recent data show U.S. GDP grew at a 3.8% annual rate in Q2 2025, while the Sahm Rule sits near 0.13%, signaling low near‑term recession risk.
• JPMorgan earlier put recession odds around 40% this year, and investors closely watch Dimon’s assessments as a read on economic risk.