NEW YORK: JPMorgan Chase CEO Jamie Dimon expects the US economy to face unexpected volatility, and a possible recession in the fourth quarter of 2022.
Dimon told CNBC on Wednesday that economic growth in the country will continue through the second and third quarters of this year.
However, he foresees a grim state in the fourth quarter.
“You’ve never seen that before. I’m simply pointing out that those are storm clouds on the horizon that may disappear, they may not,” Dimon told analysts, as reported by CNBC.
His statement is widely considered a dire warning about how major events can change the economic landscape.
In 2021, Dimon said that the US is enjoying an economic “Goldilocks moment” of high growth triggered by manageable inflation that could last through 2023. However, high inflation and the impact of Russia’s invasion of Ukraine have now clouded that picture.