Overview

• Jamie Dimon warns that U.S. tariffs and global trade wars could slow economic growth, fuel inflation, and harm long-term economic alliances.
• Dimon highlights the risk of stagflation, citing high fiscal deficits, geopolitical tensions, and infrastructure investments as contributing factors.
• JPMorgan economists have raised the probability of a U.S. and global recession in 2025 to 60%, reflecting heightened economic uncertainty.
• Dimon critiques market optimism, suggesting equity valuations remain high and a 'soft landing' for the economy is far from guaranteed.
• Despite economic turbulence, JPMorgan Chase achieved record profits of $58.5 billion in 2024, underscoring its resilience.