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By Staff Reporters
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PMorgan CEO Jamie Dimon just warned that the U.S. is headed for a recession in the next six to nine months as volatile markets coincide with disorderly financial conditions. Speaking to CNBC’s Julianna Tatebaum at the JPM Techstars conference in London, Dimon said U.S. consumers would be in better shape this time around than the 2008 global financial crisis but the current factors contributing to a recession were still a cause for concern.
“But you can’t talk about the economy without talking about stuff in the future – and this is serious stuff,” Dimon said, citing inflation, quantitative easing, and Russia’s war with Ukraine.
“These are very, very serious things which I think are likely to push the U.S. and the world – I mean, Europe is already in recession, and they’re likely to put the U.S. in some kind of recession six to nine months from now,” he said.
NOTE: Dimon’s comments came after the September jobs report, released last Friday, showed that businesses kept hiring at a brisk pace, unemployment fell back to a half-century low and average pay rose.
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Filed under: "Ask-an-Advisor", Experts Invited, Funding Basics, Investing | Tagged: Jamie Dimion, JMP, PM Techstars, PM Techstars Conference |
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