JPMorgan Chase & Co. CEO Jamie Dimon said on Tuesday speaking at the Economic Club of New York that there is a possibility "stagflation could happen again."
"The economy's been booming for a while. Unemployment is at an all-time low. Even if we go into a recession, the average American consumer is in good shape right now. But that doesn't mean you can fight off the effects of stagflation if things get worse," he explained.
He went on to say that should interest rates go up and there is a recession, that will "hurt leveraged companies, jobs, profits, and real estate."