His gloom, however, has also been consistently at odds with heady financial markets.
In late 2022, for instance, he predicted economic bumps and, potentially, a severe recession for the next year; instead, the American economy boomed in 2023.
Mr. Dimon has been among the few to say they are preparing for the possibility that interest rates will be raised again, a move that would suggest more extreme inflation than is currently being measured.
Mr. Dimon made more extended remarks on the tricky environment in his annual letter to shareholders this week.
JPMorgan also disclosed a fall in its so-called net interest income, a closely watched financial metric that essentially measures how much money it is able to make from lending.
Persons:
Dimon, ”
Organizations:
Federal Reserve, JPMorgan
Locations:
United States, Ukraine