(TNND) — JPMorgan Chase CEO Jamie Dimon warned that the US economy is likely heading toward a recession due to President Donald Trump’s tariffs, but also expressed hope that the tariffs could be resolved quickly.
In an interview on Fox Business, Dimon said, “We have the best economy in the world.”
However, in a recent letter to shareholders, Dimon struck a more cautious tone, warning that trade wars initiated by the Trump administration could lead to higher prices in American stores, weaken global alliances, and slow economic growth.
JPMorgan Chase has updated its recession projection, increasing the likelihood from 40 percent to 60 percent.
Dimon wrote, “Whether or not the menu of tariffs causes a recession remains in question, but it will slow down growth.”
Source: news4sanantonio.com
