Jamie Dimon, CEO of JPMorgan Chase & Co., said tensions between the United States and China and the war between Russia and Ukraine were “much more of a concern than whether there was a mild or marginally severe recession. “I would worry more about the geopolitics of the world today,” he stressed.
JPMorgan boss Jamie Dimon warns of something ‘far more concerning’ than recession
JPMorgan Chase & Co. Chief Executive Jamie Dimon spoke at the Saudi Future Investments Initiative conference in Riyadh on Tuesday about things worse than a recession. About 400 American executives are attending the conference along with his leaders of European and Asian business.
Dimon explained that he sees geopolitical uncertainty as far more risky than a recession, noting that it is one of the biggest concerns facing the global economy today. did. A JP Morgan executive said:
Most importantly, the geopolitics surrounding relations between Russia and Ukraine, the United States and China, and the Western world. To me, it’s much more of a concern than whether the recession is mild or moderately severe.
JP Morgan’s chief executive added that a recession isn’t the most important thing JP Morgan thinks about. “I would worry more about the geopolitics of the world today.”
The relationship between the Biden administration and the Saudi leadership is at its worst. Earlier this month, Saudi Arabia coordinated oil production cuts with the Organization of the Petroleum Exporting Countries (OPEC) and his OPEC+, a group of producers made up of allies, including Russia. President Joe Biden has promised there will be “impact” on US relations with Saudi Arabia after OPEC+ announced he would cut his oil production target by 2 million barrels per day.Crown Prince Mohammed bin Salman teased Biden Monday.
JP Morgan’s CEO believes the US and Saudi Arabia can overcome recent tensions. warned and elaborated as follows:
American policy doesn’t necessarily have to be “all our own way”… I can’t imagine any allies agreeing to everything. They will do it and I am sure people on both sides have done it and these countries will continue to be allies.
What are your thoughts on JP Morgan CEO Jamie Dimon’s comments? Let us know in the comments section below.
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