JPMorgan Chase CEO Jamie Dimon has cautioned that the possibility of a U.S. recession still looms large, citing a convergence of geopolitical instability and unresolved domestic issues as key threats to economic momentum.
Speaking in a Bloomberg interview, Dimon noted that while his firm’s economists estimate a 50% chance of a recession, the outcome remains unpredictable. “We hope to avoid it,” he said, “but I wouldn’t rule it out.”
Dimon pointed to a range of destabilizing factors contributing to market volatility—including escalating tensions in the Middle East, the ongoing war in Ukraine, unresolved fiscal policies in the U.S., and uncertainty surrounding international tariffs.
The growing federal deficit and a pending tax bill only add to the mix of concerns.
He also touched on recent progress in global trade diplomacy, referencing a preliminary U.S.-UK deal and the easing of some trade restrictions. While welcoming the steps, Dimon emphasized that much remains uncertain, especially regarding future negotiations with China.
“Starting dialogue is good for markets,” he said. “But we’re far from clarity.”
Robert Kiyosaki, author of Rich Dad Poor Dad, has issued a bold prediction on silver, calling it the “best asymmetric buy” currently available.
Fresh data on Personal Consumption Expenditures (PCE) — the Federal Reserve’s preferred inflation gauge — shows inflation ticked higher in May, potentially delaying the long-awaited Fed rate cut into September or later.
Federal Reserve Chair Jerome Powell is once again under fire, this time facing renewed criticism from Donald Trump over the Fed’s decision to hold interest rates steady in June.
Billionaire investor Ray Dalio has sounded the alarm over America’s soaring national debt, warning of a looming economic crisis if no action is taken.