Dimon, speaking at a money meeting sponsored by AllianceBernstein, claimed, “It’s a hurricane. Right now, it is sort of sunny, issues are performing great, absolutely everyone thinks the Fed can tackle this,” according to Bloomberg.
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Having said that, “That hurricane is proper out there, down the street, coming our way,” he extra. “We just never know if it’s a insignificant one or Superstorm Sandy or Andrew or a thing like that. You better brace yourself.”
Dimon’s warning echoed one particular built previously by previous Goldman Sachs CEO Lloyd Blankfein, who explained to CBS converse exhibit Deal with the Nation final thirty day period that there is a “very, quite large risk” variable for an economic economic downturn.
The Federal Reserve is shedding virtually $9 trillion in bond holdings, and are wanting to enact a different curiosity price raise at their meeting in June.
“JPMorgan is bracing ourselves and we’re likely to be quite conservative with our harmony sheet,” Dimon mentioned.
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