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☆ Fears about stagflation are mounting in the US. It’s every central banker’s worst nightmare
▼ + stars: | 2024-04-25 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

And economists are forecasting new inflation data due Friday will paint a similar picture. The GDP report gave another preview of what could come. Slowing economic growth combined with rising inflation is known as stagflation. To be fair, one GDP report isn’t necessarily indicative of a trend. He repeated that message in a Wall Street Journal interview published Thursday before the GDP report was released.

Persons: there’s, JPMorgan Chase, Jamie Dimon, we’ve, ”, —, ” Dimon, Mike Reynolds Organizations: New, New York CNN, Federal Reserve, JPMorgan, Economic, of New Locations: New York, Germany, Israel, of New York

☆ Jamie Dimon fears for the future of the free world and US debt
▼ + stars: | 2024-04-24 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

New York CNN —JPMorgan Chase CEO Jamie Dimon is worried about the future of the free world. “The geopolitical situation is probably the most complicated and dangerous since World War II,” Dimon said during a talk at the Economic Club of New York on Tuesday. “The world order that formed after WWII, Bretton Woods, WTO [the World Trade Organization], and the UN is kind of being challenged,” he said. This is not the first time Dimon has warned that the world is on the brink of a massive realignment. The country’s national debt is now over $34.5 trillion, or about $103,000 for every American.

Persons: Jamie Dimon, ” Dimon, Dimon, Bretton, ”, That’s, “, Jerome Powell, Niall Ferguson, Chris Isidore, Tesla, Elon Musk, Jeanne Sahadi, Joe Biden, “ won’t Organizations: CNN Business, Bell, New York CNN, JPMorgan, Economic, of New, World Trade Organization, UN, AAA, NATO, Atlantic Treaty Organization, Federal, Federal Trade Commission, FTC, of Commerce Locations: New York, of New York, Ukraine, NATO, Israel, US, China, Bretton Woods, WTO, Russia

☆ Geopolitical strife is roiling Wall Street. Here’s what investors are watching
▼ + stars: | 2024-04-16 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Those what-ifs could further roil gas and oil prices. But if there’s further conflict, he said, “you’d see a much higher premium for oil prices. If there’s a de-escalation of tensions between Israel and Iran, they said, oil prices should come down over the next few weeks. But if there’s an escalation in conflict, they expect that oil prices could jump to more than $100 per barrel, they wrote in a note Monday. Retail sales rose 0.7% in March from the prior month, a slower pace than February’s upwardly revised 0.9% gain, the Commerce Department reported Monday.

Persons: New York CNN —, JPMorgan Chase, Jamie Dimon, ” Dimon, Jerome Powell, We’ll, Christine Lagarde, Andrew Bailey, Dave Sekera, Israel doesn’t, ”, “, Moody’s, there’s, Chris Isidore, Pete Muntean, Sam Salehpour, Read, Bryan Mena, Claire Tassin Organizations: CNN Business, Bell, New York CNN, Dow, JPMorgan, International Monetary Fund, IMF, Bank, Bank of Canada, Seven, European Central Bank, Bank of England, Morningstar, Nvidia, AMD, Wall Street Journal, Federal Reserve Bank of New, Boeing, Federal Aviation Administration, Alaska Airlines, Commerce Department, Morning, Amazon Locations: New York, Russia, Ukraine, China, United States, Washington ,, Iran, Israel, Federal Reserve Bank of New York

☆ Dow tumbles more than 300 points on fears of potential attack by Iran and inflation woes
▼ + stars: | 2024-04-12 | by ( Krystal Hur | ) edition.cnn.com time to read: +2 min

New York CNN —US stocks slid Friday morning as Wall Street worried about escalating tension in the Middle East and sticky inflation. The US and Israel are on alert for a potential attack by Iran or its proxies after an Israeli strike in Damascus last week. The price of the most actively traded gold futures contract rose to roughly $2,432 a troy ounce. Elsewhere, fresh data showed that Americans’ attitudes toward the economy have dampened over the past few months as inflation stays stubborn. The University of Michigan’s latest consumer survey showed that sentiment largely held steady in April, according to a preliminary reading released Friday.

Persons: Dow, JPMorgan Chase, Jamie Dimon, ” Dimon Organizations: New, New York CNN, Nasdaq, Texas, Energy, Federal Reserve, JPMorgan, JPMorgan Chase, University of Michigan’s Locations: New York, Israel, Iran, Damascus, Gaza, Ukraine

Jamie Dimon sees America at a ‘Pivotal Moment’Jamie Dimon’s annual letter to JPMorgan Chase shareholders has just been published. The economy is resilient but the government underpinning it is a red flag. Consumers are spending and investors expect a soft landing. But Dimon warns that the economy is being fueled by government spending and rising deficits. “These markets seem to be pricing in at a 70% to 80% chance of a soft landing — modest growth along with declining inflation and interest rates,” Dimon writes, adding that the odds are actually a lot lower.

Persons: Jamie Dimon, Jamie Dimon’s, Dimon, ”, ” Dimon Organizations: JPMorgan Chase Locations: America, Ukraine

☆ Jamie Dimon says in shareholder letter AI could be as consequential to the economy as electricity
▼ + stars: | 2024-04-08 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +5 min

JPMorgan, the world’s largest bank by market capitalization, is exploring the potential of generative AI within its own ecosystem, said Dimon. “Over time,” wrote Dimon, “we anticipate that our use of AI has the potential to augment virtually every job, as well as impact our workforce composition. First Republic purchaseJPMorgan acquired most of First Republic’s assets last May after the San Francisco-based regional bank was seized by the government. Dimon wrote those odds are far too optimistic. “Small changes in interest rates today may have less impact on inflation in the future than many people believe,” he said.

Persons: Jamie Dimon, ”, Dimon, JPMorgan Chase, ” Dimon, “ Organizations: New, New York CNN, JPMorgan Chase, International Monetary Fund, Industries, Nvidia, Microsoft, JPMorgan, Software, San, First Republic, Silicon Valley Bank, Signature Bank, Markets, Traders, Federal Reserve Locations: New York, Republic, San Francisco, Silicon

☆ Premarket stocks: This rally is nearly unprecedented. Can it last?
▼ + stars: | 2024-02-27 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Just last week the S&P 500 hit a new all-time high and notched its best showing in a year. But this nearly unprecedented surge in the markets is sparking some concern over what’s driving the rally and whether it can continue. The S&P 500 and Dow last week each reached record levels after blockbuster earnings from the chipmaker set off a broad market rally. The S&P 500 is up more than 6% for the year, but when you equally weigh all of the stocks in the index, it’s up just 2.5%. Last year, the S&P 500 rose by 24.2%, but the equally-weighted index was up by just 11.6%.

Persons: Sam Stovall, Tesla, Jamie Dimon, ” Dimon, CNBC’s Leslie Picker, That’s, ”, What’s, Warren Buffett, Berkshire Hathaway, Eva Rothenberg, Buffett, Gary Pilnick’s, WK Kellogg, Pilnick, Bran, ” Pilnick, hasn’t, Carl Quintanilla Organizations: CNN Business, Bell, New York CNN —, Nvidia, Dow, Nasdaq, Health, Tech, Deutsche Bank, Microsoft, Apple, Amazon, Google, JPMorgan, Federal Reserve, Traders, PCE, Berkshire, CNBC Locations: New York, Berkshire, Omaha , Nebraska, Omaha, United States

The Davos consensus on the presidential electionPublicly, the global business leaders who gathered at the World Economic Forum in Davos, Switzerland, haven’t wanted to predict the winner of the upcoming U.S. presidential election. In an interview with Andrew on CNBC, he didn’t predict that Trump would win, but suggested that dismissing the former president and his supporters would be a mistake. “He wasn’t wrong about some of these critical issues, and that’s why they’re voting for him,” he said. “Trump is already the president at Davos — which is a good thing because the Davos consensus is usually wrong,” Alex Soros, the son of George Soros, said on a panel. A little history: The Davos consensus was that Hillary Clinton would beat Trump in 2016.

Persons: haven’t, Donald Trump, DealBook, Trump, Jamie Dimon, JPMorgan Chase, Andrew, “, ” Dimon, ”, MAGA, bode, “ Trump, ” Alex Soros, George Soros, Hillary Clinton, Sting, Biden, It’s, Reddit, Macy’s, Tony Spring, Warren Buffett, Morningstar Organizations: Economic, JPMorgan, CNBC, Trump, NATO, Biden, Trump’s Republican, Davos, Apple Watch, Reuters, Investors Locations: Davos, Switzerland, U.S, China, American, Indonesia, E.S.G

☆ Trump is building his power at home while global leaders dread his return
▼ + stars: | 2024-01-19 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

Trump has invigorated an initially lackluster White House bid by leveraging his multiple criminal indictments to create a narrative of political persecution. On Thursday, CNN’s congressional team reported that senators trying to cut an immigration deal with the White House are running into a problem: Trump. The aid measure is being held up by the immigration showdown to which it was linked — perhaps unwisely many Democrats now think — by the White House. It has caused particular consternation in Europe after the transatlantic alliance was constantly rattled by Trump during his White House term. That’s likely to be a pale imitation of what awaits if he gets back to the White House.

Persons: Donald Trump, Trump, Ron DeSantis, Nikki Haley, Haley, Kevin Roberts –, “, can’t, Kamala Harris, Joe Biden’s, Biden, he’s, ”, Sen, Kevin Cramer, Trump’s, Vladimir Putin, Mike Quigley of, Jim Sciutto, CNN Max, Putin, Michael McFaul, Obama, ” McFaul, ” Trump, Ted Cruz, Marco Rubio, Alejandro Mayorkas, Mike Johnson, Mitch McConnell, reverberations, America’s, Christine Lagarde, Heritage’s Roberts, Roberts, that’s, ” Roberts, Jamie Dimon, ” Dimon, Philipp Hildebrand, Emmanuel Macron, ” Macron Organizations: CNN, Florida Gov, South Carolina Gov, New Hampshire, Trump, Economic, Business titans, Heritage Foundation, Republicans, Capitol, GOP, Representatives, Republican, North Dakota Republican, Ukraine, Democratic, Congressional Ukraine Caucus, White, Spirit of, Homeland, US, Colorado Supreme, America, tony, European Central Bank, NATO, CNBC, ” BlackRock, Swiss National Bank Locations: Iowa, Washington, Ukraine, New, Davos, Swiss, Mike Quigley of Illinois, Moscow, Russian, Spirit of America, Ted Cruz of Texas, Marco Rubio of Florida, Europe, Iran, Paris, Switzerland, it’s, China, United States, France

☆ Jamie Dimon: Trump was right about key issues and bashing MAGA will hurt Biden
▼ + stars: | 2024-01-17 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

New York CNN —Jamie Dimon has a warning for Democrats: Don’t dismiss Trump supporters as people who are exclusively attracted to his personality. Former President Donald Trump was right about some critical issues, the JPMorgan CEO says. “I wish the Democrats would think a little more carefully when they talk about MAGA,” Dimon told CNBC on Wednesday from the World Economic Forum in Davos. Dimon, who has clashed with Trump in the past and previously described himself as “barely a Democrat,” said that people are “basically scape-goating” Trump supporters. “I don’t think they are voting for Trump because of his family values,” Dimon said.

Persons: Jamie Dimon, Don’t, Donald Trump, “, MAGA, ” Dimon, ”, ” Trump, Trump, Trump’s, Dimon, Bloomberg Television it’s, Nikki Haley, “ I’ve, Hillary Clinton’s, Barack Obama’s, Biden’s Organizations: New, New York CNN, Trump, CNBC, Economic, NATO, Republican, JPMorgan, Bloomberg Television, JPMORGAN, Wednesday Locations: New York, Davos, Dimon, China, Mexico, United States

☆ Jamie Dimon warns ‘all these very powerful forces’ will affect U.S. economy in 2024 and 2025
▼ + stars: | 2024-01-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJamie Dimon warns ‘all these very powerful forces’ will affect U.S. economy in 2024 and 2025JPMorgan Chase CEO Jamie Dimon said he remains cautious on the U.S. economy over the next two years because of a combination of financial and geopolitical risks. “You have all these very powerful forces that are going to be affecting us in ’24 and ’25,” Dimon told Andrew Ross Sorkin Wednesday in a CNBC interview at the World Economic Forum in Davos.

Persons: Jamie Dimon, ‘, ” Dimon, Andrew Ross Sorkin Organizations: JPMorgan Chase, CNBC, Economic Locations: U.S, Davos

Wholesale inflation fell by 0.1% in December, capping a year in which the rate of price increases dropped sharply, according to a report from the Labor Department released on Friday. The producer price index for all of 2023 came in at 1% compared to 6.4% in 2022. No indication of inflation at the wholesale level,” Kathy Jones, chief fixed income strategist at the Schwab Center for Financial Research, posted on social media. A lot will depend on how the economy performs this year after putting in a strong performance in 2023. Wages are increasing and now running higher than the level of inflation, giving support to consumer spending.

Persons: ” Kathy Jones, ”, Jeffrey Roach, ” “, Jared Cohen, Goldman Sachs, Ian Bremmer, Jamie Dimon, JPMorgan Chase, Dimon, ” Dimon Organizations: Labor Department, PPI, Schwab Center, Financial Research, Federal, LPL Financial, BCA Research, Fed, U.S, Global Affairs, Goldman, Eurasia Group, GZERO Media, JPMorgan Locations: Red, Iranian, Asia, U.S, Ukraine

☆ Employees ‘didn’t work as hard’ when remote during Covid, billionaire CEO says
▼ + stars: | 2023-10-26 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

New York CNN —Private-equity billionaire Stephen Schwarzman doesn’t think office workers worked hard enough during Covid-19. “It was actually more profitable for them to stay home because one, they didn’t work as hard, regardless of what they told you. For example, about 58% of Manhattan office workers were at their workplace on an average weekday in late August and September, according to a survey from the Partnership for New York City. Just 12% of Manhattan office workers are in the office full time, according to that survey. Schwarzman, the Blackstone CEO, estimated that 20% of US office buildings are vacant and another 20% are leased but empty.

Persons: Stephen Schwarzman doesn’t, they, Slack, Blackstone, ” Schwarzman, Jamie Dimon, ” DImon, ” Dimon, “ Organizations: New, New York CNN —, Blackstone, “ Davos, Commonwealth Fund, Future Investment, JPMorgan, Partnership Locations: New York, Saudi Arabia, Manhattan, New York City

☆ Jamie Dimon warns: ‘Now may be the most dangerous time the world has seen in decades’
▼ + stars: | 2023-10-13 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +1 min

New York CNN —JPMorgan Chase CEO Jamie Dimon kicked off third-quarter earnings season Friday with a stern warning to investors: “Now may be the most dangerous time the world has seen in decades,” he wrote in the company’s report. The wars in Ukraine, Israel and Gaza “may have far-reaching impacts on energy and food markets, global trade, and geopolitical relationships.”Still, the world’s largest bank beat analysts’ expectations last quarter. The bank reported earnings of $4.33 per share versus the $3.90 expected by analysts. With nearly $3.9 trillion in assets, JPMorgan Chase is the largest bank in the United States and a bellwether for the US economy. The New York-based bank also reported a 6% drop in investment banking revenue in the third quarter.

Persons: Jamie Dimon, ”, JPMorgan Chase, ” Dimon, Dimon Organizations: New, New York CNN, JPMorgan, Revenue, Investment Locations: New York, Ukraine, Israel, Gaza, United States

“This may be the most dangerous time the world has seen in decades,” Dimon wrote in the bank's earnings statement. Political Cartoons View All 1209 ImagesThe earnings report showed that JPMorgan is doing extremely well despite the geopolitical and economic uncertainties. The bank reported a profit of $13.15 billion, up from $9.74 billion in the same period a year earlier. On a per-share basis, profit rose to $4.33 a share from $3.12 a share a year earlier. The result beat analysts' forecasts, which called for a profit of $3.95 a share, according to FactSet.

Persons: Jamie Dimon, ” Dimon, Dimon, ” Organizations: JPMorgan, Corporate America, FactSet Locations: Russia, Ukraine, Israel, Gaza, Washington

☆ Wall Street needs a boost from earnings. Can JPMorgan Chase run a strong first leg?
▼ + stars: | 2023-10-12 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

Analysts expect a 0.4% year-over-year decline in third-quarter earnings for companies in the S&P 500 index, according to FactSet. Analysts expect America’s biggest bank to report earnings per share of $3.90 and revenue of $39.57 billion for the third quarter, according to Refinitiv. Citigroup, Wells Fargo and BlackRock also report earnings Friday. “Our children are in crisis, and it is up to us to save them,” Hochul said, comparing social media algorithms to cigarettes and alcohol. Those who opt out would receive chronological feeds instead, like in the early days of social media.

Persons: ”, Michael Arone, Jay Hatfield, ” Hatfield, Banks, JPMorgan Chase, Jamie Dimon, Dimon, Wells, Chris Isidore, Darren Woods, Read, Kathy Hochul, Letitia James, Michael Mulgrew, Sen, Andrew Gounardes, Nily, “, ” Hochul, Athena Jones, Brian Fung Organizations: CNN Business, Bell, CNN, Investors, State Street Global Advisors, stoke, Infrastructure Capital Management, JPMorgan Chase, JPMorgan, First, Bank, Citigroup, ExxonMobil, Natural Resources, Midland Basins, New York Gov, New York, United Federation of Teachers Manhattan, New Locations: Wells Fargo, BlackRock, United States, Midland , Texas, Delaware, Midland, New York

☆ ADL leader slams corporation's response to terror attacks on Israel
▼ + stars: | 2023-10-11 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

New York CNN —Anti-Defamation League CEO Jonathan Greenblatt slammed Corporate America’s response to the terror attacks on Israel as “disappointing at best, disastrous at worst.”“We have arguably the most vibrant commercial sector on the planet. Where were you when your Jewish employees needed you?” Greenblatt said of the CEOs. Greenblatt credited JPMorgan Chase CEO Jamie Dimon, Hewlett Packard Enterprise CEO Antonio Neri and other executives who condemned the terror attacks and pledged solidarity with the people of Israel. “In America, your Jewish employees are dealing with something that is qualitatively and quantitatively different than any time in living memory. “This is not just some far-off conflict – though that would be enough for CEOs to speak out,” Greenblatt said.

Persons: Jonathan Greenblatt, ” Greenblatt, “, George Floyd, Izzat, Greenblatt, Chase, Jamie Dimon, Antonio Neri, ” Dimon, ” Kathryn Wylde, Martin Luther King, Jr, ” Organizations: New, New York CNN, Defamation, CNN, ADL, Israeli Defense Forces, Hamas, Wednesday, Hewlett Packard Enterprise, US Chamber of Commerce, Business, “, World Trade, Partnership, Companies, Accenture, Adidas, Eagle, NASCAR, NBA, New York Locations: New York, Israel, Kfar Aza, Israeli, York, New York City, United States, France, United Kingdom

☆ Why America’s strike wave is barely registering on Wall Street
▼ + stars: | 2023-10-10 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Give in, and companies will be less profitable and at a competitive disadvantage, big business has said. Streaming and entertainment companies (Disney, Amazon, Apple, Netflix, Comcast, Paramount and CNN parent company, Warner Bros. Discovery) saw 2.5% growth in new investors on Public during the writers strike, which began in May and ended in early October. Nothing to sweat for buy-and-hold investors: Even investors who buy index funds and are concerned about the effects of the strike probably can take a deep breath.

Persons: It’s, haven’t, Ford, Ginger Graham, Walgreens, ”, Matt Egan, JPMorgan Chase, Jamie Dimon, Dimon, ” Dimon, Goldman Sachs, ” Goldman Sachs, David Solomon, “ Organizations: CNN Business, Bell, New York CNN — Corporate, Cornell University’s Labor, Public, Ford, GM, Apple, Netflix, Comcast, Paramount, CNN, Warner Bros, Hollywood, Entertainment, Morningstar, General Motors, Walgreens, Pharmacy, JPMorgan, of Commerce, Israel - America Chamber of Commerce Locations: New York, Arizona , Washington , Massachusetts, Oregon, West Coast, Israel, United States

☆ ‘Grief and anger.’ US business groups stand up for Israel after attack
▼ + stars: | 2023-10-09 | by ( Matt Egan | ) edition.cnn.com time to read: +2 min

New York CNN —Business leaders across the United States have expressed outrage and solidarity with Israel after the deadly surprise attack by Hamas. “This past weekend’s attack on Israel and its people and the resulting war and bloodshed are a terrible tragedy,” Dimon told all employees on Sunday in a memo obtained by CNN. “We stand with our employees, their families and the people of Israel during this time of great suffering and loss,” Dimon said. JPMorgan has about 230 to 240 employees in Israel and has asked staff there to work from home for the near future, a person familiar with the matter told CNN. “We extend our heartfelt condolences to the people of Israel and stand in solidarity with them as they battle the scourge of terrorism,” the Chamber said.

Persons: JPMorgan Chase, Jamie Dimon, Dimon, ” Dimon, “, ” Kathryn Wylde, ” Wylde Organizations: New, New York CNN — Business, JPMorgan, CNN, Bloomberg News, Partnership, “, World Trade, of Commerce, Israel - America Chamber of Commerce Locations: New York, United States, Israel, New York City, York

☆ Premarket stocks trading: ESG has lost its meaning. One advocate says let's throw it in the trash
▼ + stars: | 2023-10-03 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Dedicated ESG funds have also lost popularity with investors. Total assets under management in ESG funds fell by about $163.2 billion globally during the first quarter of 2023 from the year before, according to data provider Lipper. According to the latest Fed projections, officials forecast just one more interest rate hike this year — and rate cuts next year. When members of his board ask him whether interest rates could really go that high, his answer is always “yes,” he told Bloomberg. There are a lot of “potential bad outcomes,” Dimon said, but the worst-case economic scenario would be stagflation, with low growth and high interest rates.

Persons: “ ESG, ESG, What’s, Lipper, Lynn Forester de Rothschild, ESG “, ”, Rothschild, King Charles II, Bill Clinton, Archbishop of Canterbury Justin Welby, ’, Stephen Hall, Philip Morris, “, Robert Jenkins, Jenkins, Jamie Dimon, Dimon, It’s, ” Dimon, “ you’re, Satya Nadella, Brian Fung, Nadella, ” Nadella, else’s Organizations: CNN Business, Bell, New York CNN, Fox News, Republican, Biden, Council, Inclusive Capitalism, “ Investment, Better, CNN, Jamie Dimon JPMorgan, Federal, Bloomberg, Times, Microsoft, Google Locations: New York, Times of India, United States

☆ Be prepared for 7% interest rates, warns Jamie Dimon
▼ + stars: | 2023-10-02 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

Most analysts say the central bank will raise interest rates just one more time, in November, by 0.25 percentage points from its current range of 5.25%-5.50%. However, Dimon told Bloomberg TV it’s possible the central bank will continue hiking rates by another 1.5 percentage points, to 7%. According to the latest Fed projections, officials forecast just one more interest rate hike this year — and rate cuts next year. Still, Dimon, who leads the largest bank in the United States, says Americans need to be prepared for interest rates to surge. There are a lot of “potential bad outcomes,” Dimon said, but the worst-case economic scenario would be stagflation, with low growth and high interest rates.

Persons: Jamie Dimon, Dimon, It’s, ”, ” Dimon, “ you’re, “ They’re, “ Organizations: New, New York CNN, JPMorgan, Federal, Bloomberg, Times Locations: New York, Times of India, United States, Ukraine, China

☆ JPMorgan CEO Jamie Dimon warns the world isn’t ready for 7% interest rate
▼ + stars: | 2023-09-26 | by ( Matt Egan | ) edition.cnn.com time to read: +2 min

New York CNN —JPMorgan Chase CEO Jamie Dimon is raising the specter of the war on inflation getting worse before it gets better. The comments added to ongoing nervousness on Wall Street, which has been fueled in large part by concerns about the Fed keeping interest rates high for longer. Since early last year, the Fed has rapidly raised interest rates from near zero to just over 5%. If they are going to have lower volumes and higher rates, there will be stress in the system,” Dimon said. Last week, Fed officials released projections that pencil in just one more interest rate hike this year before rate cuts next year.

Persons: Jamie Dimon, Dimon, ” Dimon, Dow, “, Warren Buffett, ” Organizations: New, New York CNN, JPMorgan, Times, Federal, Nasdaq, Fed, First Republic Bank Locations: New York, India, Mumbai, Times of India

☆ JPMorgan CEO Jamie Dimon blasts draft capital rules
▼ + stars: | 2023-09-11 | by ( Nupur Anand | ) www.reuters.com time to read: +1 min

Slideshow ( 2 images )NEW YORK (Reuters) -JPMorgan Chase CEO Jamie Dimon blasted stricter capital rules proposed by U.S. regulators, telling investors on Monday that they could prompt lenders to pull back and stymie economic growth. “I wouldn’t be a big buyer of a bank,” Dimon said at a conference in New York, drawing laughter from the audience. “All I want is fairness, transparency, openness,” Dimon said. Dimon said he believes that the Chinese market is no longer as lucrative as it was. Dimon has earlier warned about uncertainty in the Chinese economy hurting investor confidence and also suggested that the U.S. and China need “real engagement” on security and trade issues.

Persons: Jamie Dimon, ” Dimon, “ I’d, Dimon, ” Organizations: JPMorgan Chase, JPMorgan, First Locations: U.S, New York, China

☆ Premarket stocks: Bank CEOs are already complaining about new regulations they haven't even seen yet
▼ + stars: | 2023-07-19 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Investors, worried about the economic atmosphere and the recent regional banking collapse, breathed a sigh of relief at the results. Jamie Dimon, head of JPMorgan Chase, commented on the bank’s Friday earnings call that non-bank financial rivals were “dancing in the streets” as regulators get ready to increase bank capital requirements. “This is great news for hedge funds, private equity, private credit, Apollo, Blackstone,” Dimon said of the proposed regulations. The change, they say, will increase the financial system’s resilience following the failures of three regional banks earlier this year. “The capital in the industry is sufficient,” said Bank of America CEO Brian Moynihan on his company’s earnings call Tuesday morning.

Persons: Jamie Dimon, JPMorgan Chase, ” Dimon, ”, Jeremy Barnum, Barnum, don’t, Brian Moynihan, “ They’ve, Morgan Stanley, James Gorman, Elizabeth Warren, Richard Blumenthal, Tammy Duckworth, Martin Gruenberg, “, Taylor Marr, That’s, they’re, Bryan Mena, Neil Saunders Organizations: CNN Business, Bell, New York CNN, Silicon Valley Bank, JPMorgan, Blackstone, of America, CNBC, Valley Bank, Signature Bank, Federal Deposit Insurance, Redfin, Retail, Commerce Department Locations: New York, Silicon, Basel, Massachusetts, Elizabeth Warren , Connecticut

☆ Bulls and bears are locked in a battle for Wall Street
▼ + stars: | 2023-07-17 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

New York CNN —Bulls and bears have always engaged in battle on Wall Street. Before the Bell: Why is there a growing division between bulls and bears? If a rally continues, the bulls will say that the bears missed it. If it moves in the other direction, in a swift fashion, then the bears will say that the bulls were overly optimistic. “I don’t know if it’s going to lead to a soft landing, a mild recession or a hard recession,” Dimon said during the call.

Persons: Liz Young, Bell, Young, we’re, Jamie Dimon, I’ve, Matt Egan, Dimon, JPMorgan Chase, “ tailwinds, ” Dimon, ” Jeremy Barnum, ” Barnum, Coco Chanel ’, Ellie Stevens, Shein, “, Coco Chanel, Yves Saint Laurent, Xu Yangtian, Chris Xu, “ SHEIN, ” Organizations: CNN Business, Bell, New York CNN — Bulls, Big Tech, JPMorgan, CNN, JPMorgan Chase, First Locations: New York, Ukraine, First Republic, California

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