JPMorgan Chase & Co. Chief Executive Jamie Dimon said Wednesday he’s less certain than others that the U.S. economy may avoid a recession.
JPMorgan Chase’s
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Dimon said he’s giving lower odds than others of a soft landing, as part of comments on a wide range of topics, according to the New York Times live blog of his appearance at the 2023 DealBook Summit.
Read next: Fed’s Bostic says he’s more confident in his soft-landing forecast
Dimon compared the economy to the weather, with people always making mistakes in predictions.
In terms of other geopolitical flashpoints, Dimon said a war in Taiwan could trigger a major depression and that the most dangerous risks in the globe right now include nuclear proliferation, another pandemic and climate change.
TikTok parent ByteDance Ltd. is one of the bank’s clients, he said.
“If they were truly bad we would not bank them,” Dimon said.
Also read: Bill Ackman warns economy will fall off a cliff if the Fed doesn’t hurry and cut rates
On U.S. politics, Dimon reportedly confirmed he has spoken to GOP presidential candidate Nikki Haley.
Dimon supports U.S. aid to Ukraine and said, “That’s the front line of Democracy right now for the world.”
JPMorgan Chase’s stock was up by 0.7% on Wednesday.
Other featured speakers at the event include U.S. Vice President Kamala Harris, Tesla Inc.
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Chief Executive Elon Musk, former House Speaker Kevin McCarthy, Walt Disney Co.
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Chief Executive Bob Iger, Nvidia
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President Jensen Huang, as well as Israel President Isaac Herzog and Taiwan President Tsai Ing-wen.
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