itstargetnews
JPMorgan Chase CEO Jamie Dimon Say on Monday tariff Announced by the President Donald Trump Prices of domestic and imported goods could be raised last week, thereby reducing the already slowing U.S. economy.
Dimon, 69, solved it Tariff Policy Trump announced in his annual shareholder letter April 2 that the letter has become a closely read clip about the economic situation and has made proposals about the problems facing the United States and his impact on effective management.
“Whether you think of the reasonable reasons for the newly announced tariffs, of course, there are some – or long-term effects, good or bad, that can have important short-term effects,” Dimon said. “With the cost of inputs rises and the demand for domestic products increases, we may see inflation results, not only on imported goods, but also on domestic prices.”
“There is still a problem whether the tariff menu causes a recession, but it will slow growth,” he said.
Dimon is the first CEO of major Wall Street banks that openly addressed a wide range of tariff policies that collapsed Trump’s global market. Although JPMorgan Chase Chairman often uses his platform to highlight the geopolitical and financial risks he sees, this year’s letter is in a time of unusual turbulence. Stocks have been at a time of freedom since Trump announced they were shocking global markets, leading to the worst week US Stocks Since the common pandemic in 2020.
His remarks appear to be an early comment he made in January when Dimon said people should “overcome“Tariff issues are because they are good for national security. At the time, the levels of tariffs discussed were much lower than those disclosed last week.
Dimon said Trump’s tariff policy created “a lot of uncertainty” including its impact on global capital flows and the dollar, its impact on company profits, and its reactions to trading partners.
“The faster this problem is solved, because over time, some of the negative effects will accumulate and be hard to reverse,” he said. “In the short term, I think it’s a big straw on the camel’s back.”
“Not sure”
Despite the good performance of the U.S. economy over the past few years, nearly $11 trillion in government borrowing and spending has helped, Dimon said it has “have weakened” in recent weeks, even before Trump’s tariffs were announced. He added that inflation may be higher than many people expect, meaning interest rates may rise even if the economy slows down.
“The economy faces considerable turmoil (including geopolitics), potential enthusiasm for tax reform and deregulation, and potential negative effects of tariffs and trade wars, persistent sticky inflation, high fiscal deficits and still high asset prices and volatility,” Dean said.
Considering how much U.S. stocks that have fallen from their recent highs have fallen, Dimon has also attracted some ominous attention. According to JPMorgan’s CEO, the stock and credit spreads may still be too optimistic.
“The market seems to be still pricing, assuming we will continue to have a rather soft landing,” Dimon said. “I’m not sure.”
“Criticize the Crossroad”
According to Dimon’s leadership for about two decades, JPMorgan became the largest bank in the United States by assets and market capitalization. He noted that last year was the seventh time of record revenue.
However, the bank relies on “the long-term health of the United States, whether the future of the domestic and liberal democratic world is strong”.
According to Dimon, the United States and the world are at a critical crossroads. Since the end of World War II, he presided over the in-depth reform and strengthening of the US-led global system, which led to decades of peace and prosperity rather than abandoning the order.
“If there is a chance, that’s exactly what our opponents want to happen: tear off the broad military and economic alliances that the United States and its allies have built,” Dimon said.
“In the multipolar world that follows, it will be the country of every country – giving our opponents the opportunity to make rules and leverage military and economic coercion to get what they want.”
Dimon has several prescriptions to address the challenges of the day, including restoring civic pride, recognizing and solving problems, including uncontrolled immigration and unfair trade policies, and maintaining the U.S. military “at any cost.”
“Economics is a long-term glue, and as long as it is not a person in the end, the United States will do the first thing,” Dimon said.
