Jamie Dimon, chief executive officer of JP Morgan Chase, confirms his belief that a recession is imminent in the United States.
However, he also stated that the United States is in better health than it was during the 2008 financial crisis.
Dimon was reported as stating that the Federal Reserve “waited too long and did too little” during the past 18 months of rising inflation.
The chief executive warned that the S&P 500 could easily fall by another 20%. This will of course have far-reaching impacts on stock investments leading to the prediction of recession
Many economists say corporate pricing, energy costs, and supply chain disruptions are the true inflationary culprits.
Questions are being raised as to whether the Federal Reserve’s interest rate hikes are overlooking these factors.
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