JPMorgan’s Jamie Dimon warns U.S. economy could soon ‘deteriorate’

The impacts of public spending and monetary policy of the pandemic era which have helped support the American economy has faded, and which makes the country vulnerable to a slowdown in the coming months, according to the country JPMorgan Chase CEO Jamie Dimon.

“I think there is a chance that real figures will deteriorate soon”, ” Tobacco said on Tuesday at a conference by Morgan Stanley, according to a transcription of Fostset.

The United States has continued to see the growth in total employment and consumer spending this year, even if the survey data has shown a weakening of confidence among consumers and business leaders in the Trump administration policies.

Dimon has minimized survey data, saying that “neither consumers nor companies never choose inflection points”, but said that the “gentle landing” of the economy was to seem lower in the future.

“Employment will drop a little. Inflation will increase a little. I hope it’s just a bit,” he said, adding that lower immigration levels are another complication for the factor.

Dimon, who has been CEO of JPMorgan since 2006, has a history of cautious sharing or Negative perspectives on the economy. His Tuesday comments were not unusually pessimistic.

The most recent economic data show both employment growth And inflation slowed down in May.

Another area that Dimon warned was a private credit, which has become a booming company at Wall Street and is considered a potential area of ​​concern in the event of recession. The CEO explained that private credit risks are different for banks – which align the offers and then move them away from their books – and for investors who are looking for long -term yields of the asset class.

“Do I think it’s a good time to buy credit if I was a fund manager? No. I would not buy credit today at these prices and these differences,” said Dimon.