JPMorgan CEO Jamie Dimon says pandemic savings would be exhausted by Christmas
Per Business Insider
The CEO of JPMorgan, Jamie Dimon, has said that the pandemic savings of Americans would be exhausted by Crhistmas. This comes as the CEO expressed more worry towards other global threats.
The CEO believes that this could result in an economic slowdown and a decrease in consumer spending. However, he did note that the downturn would be lessened by a few economic factors.
These factors included increased stock prices, wages, and home values over the course of the previous 10 to 15 years. Dimon said that despite a potential recession, consumers would still be okay.
Dimon: "I'm much more worried about some of these other serious things getting worse... The war in Ukraine spreading out, nuclear blackmail, food doesn't get delivered, starvation in Africa. I'm far more worried about that."
In April, Jamie Dimon was set to be questioned under oath for up to seven hours over the span of two days in depositions for lawsuits that were accusing his bank of complicity regarding Jeffrey Epstein's illicit activities.
In May, the JPMorgan CEO wanted regulators to look at short-selling bans on banks. He specifically commented on a short-selling ban on banks.
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Other News:
- JPMorgan, $JPM, CEO Jamie Dimon is to be questioned under oath for up to seven hours over two days in depositions for lawsuits accusing his bank of complicity in sex trafficking by Jeffrey Epstein
- JPMorgan CEO wants regulators to look at short-selling ban on banks
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