Despite the recent agreement between China and the United States to reduce tariffs, JPMorgan Chase CEO Jamie Dimon continues to warn investors about the possibility of a recession.
Speaking to the media at the firm’s annual conference in Paris today, Dimon stated, “I wouldn’t take it off the table at this point.”
The CEO stated that the agreement the U.S. reached with China was “the right thing to do,” as the lowering of tariffs on most Chinese goods for the next three months “obviously calms down the markets. That’s not the reason to do it, but the markets do vote, or something like that.”
Dimon noted that recent market volatility has benefited JPMorgan Chase by resulting in higher trading volume; however, “This one happened to be good. The next go around may not be so good.”
After the weekend discussions in Geneva involving officials from the Trump administration and the Chinese government, JPMorgan economists reduced the risk of a recession in the US economy from 60% to below 50%.
By CEO NA Editorial Staff
