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JPMorgan CEO Jamie Dimon expects US Recession in six to nine months

JPMorgan CEO Jamie Dimon expects US Recession in six to nine months

One of the biggest topics of the year 2022 has been the economy. That’s the case due to the heavy fluctuations within it over the course of the past several months. There are numerous causes for the changes in the economy, but overall all indications reveal that the U.S, along with the world, could be headed for a down year economically

According to the CEO of JPMorgan Chase, Jamie Dimon, the looming recession is poised to take hold around the midpoint of next year. The factors contributing to the economic downturn include multiple factors like high interest rates, along with the ongoing Russian conflict with Ukraine. 

In an interview with CNBC, Dimon said, “These are very, very serious things which I think are likely to push the US and the world – I mean, Europe is already in recession – and they’re likely to put the US in some kind of recession six to nine months from now.” Despite challenges that are expected to arrive soon he also said that he believes that the American economy is “actually still doing well” even in the midst of the obstacles that are present currently. 

Dimon also revealed that he believes that consumers will have an easier time navigating the looming recession than the one that engulfed the global economy back in 2008. Still, he’s of the belief that there’s no telling how long a looming recession will last, or how impactful it will be. “It can go from very mild to quite hard and a lot will be reliant on what happens with this war,” he said. Taking that into consideration, the insights revealed by Dimon indicate that it’s better to begin preparing for an economic downturn sooner rather than later. Doing so could be instrumental in being able to withstand a potential recession, especially one that lasts for a considerable amount of time.

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