JPMorgan CEO Jamie Dimon warned Friday about the current geopolitical situation and its effect on world markets and global trade. "This may be the most dangerous time the world has seen in decades," Dimon expressed in comments to JPMorgan's latest earnings report.
According to the CEO, the Ukraine crisis exacerbated "by last week's attacks on Israel" could significantly affect energy and food markets, world trade, and geopolitical relations. "While we hope for the best, we prepare the Firm for a broad range of outcomes so we can consistently deliver for clients no matter the environment," he added.
Dimon also warned of persistently tight labor markets, extremely high levels of public debt, and fiscal deficits as contributors to inflation and rising interest rates. "Additionally, we still do not know the longer-term consequences of quantitative tightening," he said.
