Daily Management Review

JPMorgan chief expects global recession in six to nine months


JPMorgan CEO Jamie Dimon issued a six- to nine-month recession warning.

Nicola Delfino
Nicola Delfino
According to Jamie Dimon, CEO of one of the biggest banks in the world, the United States and the rest of the world could experience a recession within the next six months.

He listed a number of warning signs of a probable recession, highlighting the sharp rise in interest rates, the situation in Ukraine, soaring inflation, and the unpredictability of U.S. Federal Reserve policies.

The economist stated that these are "very, very severe things" that might "drive the U.S. and the world — with Europe already in recession — into recession in six to nine months."

The economic blow caused by inflation has already been felt in the United States. Since 2015, Americans have anticipated a substantial drop in Christmas online sales as a result of rising interest rates and growing inflation.

source: cnbc.com