JPMorgan Chase CEO: Global tensions escalate, adopting a cautious attitude towards economic prospects

JPMorgan Chase CEO Jamie Dimon expressed caution about the economic outlook during the company's third quarter 2024 earnings call. He emphasized concerns about global instability: "For some time, we have been closely monitoring geopolitical situations, and recent events indicate that the situation is very dangerous and worsening." He added: "Humanity has suffered greatly, and these circumstances could have profound effects on short-term economic outcomes, more importantly on historical processes." He stressed that with escalating geopolitical tensions, widespread chaos may occur and warned of serious consequences for global markets. Dimon also discussed issues in the U.S. economy. Despite cooling inflation and a still robust U.S. economy, he acknowledged there are still potential risks.

He believes: "Several key issues remain including massive fiscal deficits, infrastructure needs, trade structure adjustments and global remilitarization." He emphasized the need to stay vigilant and urged preparation for unpredictable economic changes. "While we hold out hope for the best outcome possible, these events along with pervasive uncertainty illustrate why we must be prepared for any environment," he concluded.(Bitcoin.com)