JPMorgan CEO warns of hard landing

JPMorgan CEO Jamie Dimon drew attention to the fact that a soft landing seems difficult after the steps taken in monetary policy. In another statement he made this week, Dimon predicted that a recession would occur in the economy within 6-9 months. JPMorgan CEO Jamie Dimon added a new one to his statements regarding the possibility of a recession in the economy. In his latest statement, Dimon stated that the Fed cannot cool the economy without causing a recession. Speaking at a conference in Washington, Dimon said, “I don’t know if there could be a soft landing. I don’t think there will be.” Dimon stated that the alternatives to a soft landing were mild and severe recessions and said, “In the event of a severe recession, markets could be expected to fall by 20-30 percent.” According to Dimon, who thinks that inflation is permanent, the Fed will need to increase interest rates above 4-4.5 percent.