JPMorgan Chase CEO issues warning of surging global economy risks

(MENAFN) JPMorgan Chase CEO Jamie Dimon issued a warning on Friday about increasing risks to the global economy, while highlighting critical challenges facing the United States. In a press release accompanying JPMorgan's third-quarter earnings, Dimon emphasized that geopolitical tensions are escalating and becoming more dangerous, with potentially far-reaching consequences. He expressed concern over the significant human suffering caused by these events and suggested that their outcomes could not only impact short-term economic performance but also alter the course of history.

Dimon acknowledged that while inflation in the U.S. is slowing and the economy remains resilient, several key issues still need attention. Among them are large fiscal deficits, the nation's infrastructure needs, changes in global trade structures, and the remilitarization of countries around the world. He cautioned that despite the hope for positive outcomes, these uncertainties underscore the importance of preparing for a variety of challenging scenarios.

Dimon has consistently sounded the alarm about the need for the U.S. to address its fiscal issues before the country faces a full-blown financial crisis. Earlier this year, he warned that America's growing debt could drive the country toward an economic collapse. He further cautioned that stagflation—a situation marked by stagnant economic growth, high inflation, and high unemployment—remains a real risk for the U.S., advising that it should not be ruled out as a possible outcome.

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