Bill Maher's Father's Day Message Is Almost Perfect
New Video Montage Shows Why Most Americans Think Biden Is Too Old to...
A Biden Spokesperson Did Not Just Say *That* to Explain Joe's Wandering Off...
Another Big Huge Biden Lie
What to Expect in the First Presidential Debate
Pro-Hamas Agitators Show Up to Ted Cruz's Home for the 23rd Time
As Joe Manchin Leaves the Democratic Party, West Virginia Politics Sure Have Changed
New Bill Would Automatically Enlist Men Into the Draft
Why This Airport Is Bursting at the Seams With Illegal Immigrants
Trump Reveals the Two Democrats He Plans to Oust
Black Detroit Pastor Criticizes Biden, Obama But Thanks Trump for Coming to the...
Liberal Media Tries to Play With Fire on Trump’s Birthday, But It Doesn’t...
El Savador Illegal Immigrant Charged With Rape, Murdering a Mother of Five
A Politically Incorrect Prayer
Who Does Kamala Harris Think She Is Weighing in on Our Sex Lives?
Tipsheet

JPMorgan's Jamie Dimon Warns of 'Economic Hurricane'

Jamie Dimon, the Chief Executive at JPMorgan Chase, gave a harsh reality check of the nation’s current economic stance. 

During a conference hosted by AllianceBernstein Holdings, Dimon warned Americans to brace themselves for an economic hurricane caused by the Federal Reserve, rising inflation and the Russian invasion of Ukraine. 

Advertisement

“I said there were storm clouds. But I'm going to change it. It’s a hurricane…right now it’s kind of sunny, things are doing fine, everyone thinks the Fed can handle it. That hurricane is right out there down the road coming our way. We don’t know if it’s a minor one or Superstorm Sandy. You better brace yourself.”

With the fed facing the highest inflation rates in over a generation, Dimon said there are two major issues he is concerned about: How the Russia- Ukraine war is affecting rising prices for food and gas, as well as the Fed’s actions to raise interest rates and reduce its balance sheets in an effort to tame inflation. He suggested this can backfire and lead the U.S. to a recession. 

“I hope those things disappear and go away, we have a soft landing and the war is resolved.. I just wouldn’t bet on all of that.” 

Advertisement

The fed is expected to begin quantitative tightening (QT) later this month, a move that will ramp up to $95 billion a month in reduced bond holdings. Dimon says this can lead to huge mistakes, “we’ve never had QT like this, so you’re looking at something you could be writing history books on for 50 years.” 

Meanwhile, the Biden administration and the Fed have come under fire from critics who say they have not done nearly enough in combatting the country's inflation. 

Join the conversation as a VIP Member

Recommended

Trending on Townhall Videos

Advertisement
Advertisement
Advertisement