While speaking to investors and analysts, JP Morgan CEO Jamie Dimon recently said that a hurricane is coming to the U.S. economy.
Words like these are not encouraging for the millions of Americans who are already struggling financially, but this is the reality we are facing.
It’s a stark difference from the way people felt about the economy under Trump.
CNBC has details:
Jamie Dimon says ‘brace yourself’ for an economic hurricane caused by the Fed and Ukraine war
JPMorgan Chase CEO Jamie Dimon says he is preparing the biggest U.S. bank for an economic hurricane on the horizon and advised investors to do the same.
“You know, I said there’s storm clouds but I’m going to change it … it’s a hurricane,” Dimon said Wednesday at a financial conference in New York. While conditions seem “fine” at the moment, nobody knows if the hurricane is “a minor one or Superstorm Sandy,” he added.
“You’d better brace yourself,” Dimon told the roomful of analysts and investors. “JPMorgan is bracing ourselves and we’re going to be very conservative with our balance sheet.”
Beginning late last year with high-flying tech names, stocks have been hammered as investors prepare for the end of the Federal Reserve’s cheap money era. Inflation at multidecade highs, exacerbated by supply chain disruptions and the coronavirus pandemic, has sown fear that the Fed will inadvertently tip the economy into recession as it combats price increases…
“Right now, it’s kind of sunny, things are doing fine, everyone thinks the Fed can handle this,” Dimon said. “That hurricane is right out there, down the road, coming our way.”
Here’s the video:
JPMorgan CEO Jamie Dimon says there's a "hurricane" coming for the US economy and that "you better brace yourself" https://t.co/InCDVUx7Cz pic.twitter.com/LWFzjhxWR1
— Bloomberg (@business) June 1, 2022
And these scumbags on Wall Street should know because they’re working hand-in-hand with our communist leftist America hating New World Order government so they won’t Escape what’s going to come to them along with this corrupted government and what they’ve done to our country, people don’t forget especially Patriot American people when communism is shoved down our throats, and their lies these scumbags created ,they’re just as guilty and they will go down with the crowd of communist pigs that have betrayed this country and destroyed our 2020 election that could have saved this country.
Agree with you. In God we trust!
Is he American or someone in another country