JPMorgan's Jamie Dimon warns the world is on fire — and plenty of people are way too bullish
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JPMorgan CEO Jamie Dimon warns of geopolitical tensions and expresses concern about optimism regarding inflation, interest rates, and the economy. He highlights the treacherous geopolitical era, conflicts in Ukraine and the Middle East, US-China tensions, and terrorist attacks. Dimon also mentions the risks of recession, stagflation, food and energy price increases, borrowing costs, global fear and uncertainty, deficit spending, remilitarization, disruptions in global supply chains, the cost of climate change, and underinvestment in energy infrastructure. He cautions against overreliance on monthly inflation figures and minor rate adjustments, and warns of the potential stress on the banking system and leveraged companies if rates rise further. Dimon also discusses the transformative potential of AI and the risks associated with equity and credit markets. He concludes by stating that JPMorgan is prepared for rates of 2% to 8% or higher and emphasizes the extraordinary consequences of blockchain technology.

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https://www.businessinsider.com/jamie-dimon-jpmorgan-letter-war-inflation-recession-rates-economy-ai-2024-4