It started on Wall Street with Jamie Dimon. The JPMorgan Chase & Co. chief executive officer said on June 1 that the economy could be in for a “hurricane.” Although unemployment is just 3.6%, Dimon pointed to rising interest rates and oil prices. That seemed to unleash public predictions from other finance execs—as if they were waiting for someone to go first. Others, including JPMorgan’s chief economist, were articulating much less alarming views.
● “The confluence of the number of shocks to the system to me is unprecedented.” — John Waldron, president of Goldman Sachs Group Inc., June 2
● “I don’t see any possible outcome other than a recession.” — Bill Demchak, CEO of PNC Financial Services Group Inc., June 2
Source: bloomberg.com
