Jamie Dimon: Brace yourselves for an economic ‘hurricane’2 min read
Dimon also said that JPMorgan Chase is going to do all it can to attract expertise to keep on prime of the economical globe. The CEO reported the financial institution will be “spiritual” about shelling out very well to continue to keep its finest personnel.
Talking at an analyst assembly at the conclusion of Could, Dimon said that there have been “major storm clouds” on the horizon for the economic system but expressed hope that they could “dissipate.”
“If it was a hurricane, I would tell you that,” Dimon stated at the analyst conference, adding that current disorders also are not like the “tsunami” that financial institutions confronted in 2007 and 2008 when the home finance loan market place was melting down and a number of significant money institutions collapsed.
Dimon may well not be predicting a tsunami just nevertheless. But a hurricane is poor sufficient, and absolutely far more harming than a standard storm. Dimon claimed he is also nervous about the conflict in Ukraine and the impact it will have on oil price ranges, predicting on Wednesday that it can be in the cards for crude prices to at some point spike as high as $150 to $175 a barrel.
“Wars go terrible. They go south. They have unintended outcomes,” he said, including that this conflict will continue on to roil the commodity marketplaces about the globe, impacting the selling prices of oil, gas and wheat.