JPMorgan CEO says US recession could be in 6-9 months

Jamie Dimon (CEO of the world’s largest bank JPMorgan Chase) said that the US could enter a recession by mid-2023.

The main reasons due to which a recession in the US may occur in 6-9 months is growing inflation, the difficult situation in Ukraine, the increase in US interest rates and the tough policy of the Fed.

“Very negative things are happening in the global economy that could push the US and the world into recession. European countries are already in fact in recession. In 6-9 months, the US may face a recession,” said JPMorgan Chase CEO Jamie Dimon.

The CEO of JPMorgan Chase believes that the US Fed has been in a state of waiting for a long time and did too little. Now the US Central Bank should wish good luck so that the process of economic slowdown turns out to be “soft”. Dimon believes that the situation in the global economy is extremely difficult to predict. The head of JPMorgan Chase does not exclude that the S&P 500 index in the next six months may lose another 20% from current levels. True, the next decrease of 20% will have a more painful effect.