JPMorgan Chase CEO Jamie Dimon expressed concerns about the likelihood of a US recession amid escalating trade tensions with China. In an interview on Fox Business, Dimon stated that he thinks a recession is “likely” due to the impact of tariffs on financial markets and economic stability.
Dimon’s comments come as stock market futures slumped and bond yields spiked in response to increased uncertainty about the trade war. The US imposed reciprocal duties on China earlier this week, leading to an 84% tariff on all US goods. JPMorgan economists predict a 0.3% contraction in US GDP this year, citing rising uncertainty and inflation concerns.
While Dimon has previously supported tariffs as a means of preserving national security, he now advocates for taking a calm approach and negotiating trade deals with trading partners. He cautioned that market reaction could worsen if progress is not made on these issues.
Dimon also expressed support for the confirmation of Fed Governor Michelle Bowman as vice chair for supervision, which will oversee the banking and finance system.
Source: https://www.cnbc.com/2025/04/09/jamie-dimon-says-a-recession-is-likely-outcome-from-trumps-tariff-turmoil.html