Premium Only Content

US is facing grave risks in the wake of rising global geopolitical tensions - JPMorgan boss
The US is facing grave risks in the wake of rising global geopolitical tensions and the nation’s domestic political polarization, Jamie Dimon, JPMorgan Chase chief executive, has warned.
In an annual shareholder letter the CEO of the largest US bank cited large amounts of government spending and efforts by the Federal Reserve to shrink its balance sheet, as well as the Ukraine conflict and the Israel-Hamas war, as creating an environment that “may very well be creating risks that could eclipse anything since World War II.”
“America’s global leadership role is being challenged outside by other nations and inside by our polarized electorate,” Dimon wrote.
“We need to find ways to put aside our differences and work in partnership with other Western nations in the name of democracy. During this time of great crises, uniting to protect our essential freedoms, including free enterprise, is paramount,” the chief executive urged.
The 68-year-old banker added that there is “a growing need for increased spending as we continue transitioning to a greener economy, restructuring global supply chains, boosting military expenditure and battling rising healthcare costs.”
Dimon said he was not as optimistic as the broader market that the US economy will achieve a ‘soft landing,’ in which it sees modest growth and declining inflation rates. Chances of a soft landing are “a lot less” than the 70% to 80% expected by some investors, he said.
“These significant and somewhat unprecedented forces cause us to remain cautious,” the JPMorgan boss concluded.
Meanwhile, Dimon said, China has been establishing itself as a “potential superpower” and strategically focusing on its economic security, while the West “slept.”
-
10:59
itsSeanDaniel
1 day agoEuropean Leaders INSTANTLY REGRET Disrespecting Trump
6.81K5 -
8:16
MattMorseTV
14 hours ago $6.14 earnedTrump’s name just got CLEARED.
57.5K54 -
16:43
GritsGG
14 hours agoThey Buffed This AR & It Slaps! Warzone Loadout!
6.95K -
2:05:30
Side Scrollers Podcast
18 hours agoEveryone Hates MrBeast + FBI Spends $140k on Pokemon + All Todays News | Side Scrollers Live
101K9 -
11:06
The Pascal Show
12 hours ago $1.06 earned'THEY'RE GETTING DEATH THREATS!' Jake Haro's Lawyer Breaks Silence On Emmanuel Haro's Disappearance!
8.89K -
LIVE
Lofi Girl
2 years agoSynthwave Radio 🌌 - beats to chill/game to
409 watching -
2:19:32
Badlands Media
1 day agoDEFCON ZERO Ep. 005: False Flags, Cyber Fronts & Global Power Plays
146K58 -
2:35:23
FreshandFit
7 hours agoWhy Black Men Don't Date Black Women Debate
38.6K35 -
2:03:42
Inverted World Live
11 hours agoBigfoot Corpse Coming to the NY State Fair | Ep. 94
108K25 -
6:16:23
SpartakusLIVE
12 hours ago$1,000 Pistol Challenge || #1 ENTERTAINER of The EONS Eradicates BOREDOM
85.1K2