Why JPMorgan CEO Jamie Dimon Is Skeptical of an Economic Soft Landing | WSJ

JPMorgan Chase CEO Jamie Dimon says the U.S. consumer is in good shape right now, but a huge fiscal deficit and geopolitical challenges like the Israel-Hamas War and Russia-Ukraine War make him cautious about the future.

In an interview with WSJ editor in chief Emma Tucker, Dimon discusses the state of the U.S. economy, his leadership style and more.

Chapters:
0:00 U.S. consumer
2:32 U.S economy
4:31 Israel-Hamas War
5:31 Russia-Ukraine War
6:42 China
7:45 U.S. politics
8:24 Impact of near-death experience
9:13 Leadership
10:52 Quick questions

#Banks #Economy #WSJ

[DonaldMark-nese]

Protecting your capital is much more important than making money. Basically because if you lose your capital, making money is much harder. ''Missing the train'' vs. ''losing your money''. There are a lot of trains, but if your money is gone, it's over.

[RusuSilva]

Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.

[Jamesjerome]

I think I am with Jamie on this. I foresee a recession lasting 2-3 years, and if inflation continues to surge, the Federal Reserve will likely raise interest rates soon. Inflation is causing various issues worldwide, such as food shortages, scarcities of diesel and heating fuel, and significant spikes in housing prices, leading to a potential financial market crash. This global downturn could have long-lasting repercussions. Given the current inflation rate of approximately 9%, my main worry is how to optimize my savings and retirement fund, which has remained stagnant at around $300, 000, yielding almost no gains for quite some time.

[sekutard]

“the consumer is in pretty good shape right now” i dont feel in pretty good shape

[teddmented]

Tell Jamie I can’t login to my Chase account

[lao-ce]

I love when millionaires tell how the working class population feel itself.

[XxXNinjaFanXxX]

the consumer is in pretty good shape

as I spend 300 dollars for 2 bags of groceries

[LivingWithGout]

J.P Morgan stood up in his grave and applauded.

[JEEDUHCHRI]

When you control the game board, the rules, the playing field and you tell the players how they’re doing.

[zorgee]

as usual a suck up interview with no hard questions.

[christiand.]

Jamie Dimon said year and a half ago that consumers will run out of money. Never expect them to tell you the truth, they will only tell you what they want you to hear.

[sergiomendozamedrano]

The problem is that consumers out in the job market DO have options, but wages have stagnated. In simple words: jobs have increased, but not wages. It is very misleading. Their purchasing power isn’t the same as before. This is rubbish

[zenastronomy]

"the consumer is in pretty good shape, they can't afford bread, but they can eat cake instead, they have options". - Jamie Diman billionaire

[RickWatson-xugw]

With this, what's the optimal strategy to capitalize on the stock market? I'm contemplating diversifying my $400k stock portfolio to maximize returns while minimizing risk.

[SamMcKinley]

He knows a lot but people are not good. They are hungry and at each others’ throat on the low level

[jdiaz]

This same guy said bitcoin was a scam, and he buys millions worth of it. How can anyone trust what he says.

[AndrewQuiroz]

When you keep printing and printing and printing, I just don't understand how you can stop inflation.

[AmadeusDR]

Although I disagree with 50-60% of what's said in this interview I can always respect his desire to view things as objectively as possible before viewing it subjectively. A bright and calculated man who seems self-reflective. I could fault the dissolution displayed in certain statements but it's understandable from the communities he interacts with.

[Xicheng]

Either soft or hard landings have possibilities, just be prepared for both.

[fernandoboero]

WOW, he stole my quote. I keep telling every young person that it feels like 1973! back when I was 15 & scared about the future..