President of JP Morgan warned wealthy clients. It portends “something worse than a recession”

  • President Jamie Dimon spoke to JP Morgan’s wealthy clients
  • He said the odds of a major recession and “something worse” were between 20 and 30 percent.
  • He described the current risk as thunderclouds, a marked downgrade from his June warning about a hurricane
  • More such information can be found on the main page of

According to Yahoo Finance, Jamie Dimon, president of JP Morgan Chase, estimated the likelihood of a recession in the US last week.

Dimon said in a conversation with customers that the economy is strong, but storm clouds are looming on the horizon, including the Fed’s monetary policy, Russia’s invasion of Ukraine, and rising oil prices. This statement is apparently a downgrade from Dimon’s previous comments when he warned of an economic hurricane.

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