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The war in Iran could bring a “skunk” to America’s economic party this year, JPMorgan Chase CEO Jamie Dimon said in his annual letter to shareholders, released on April 6.
Dimon warned that the conflict could elicit several scenarios, ranging from higher inflation to rising recession risks.
“A bad confluence of events generally causes various degrees of a recession,” Dimon said, adding that this climate can lead to higher credit losses, rising unemployment, and volatile markets.
“While the economy may be less fragile than in the past, this alone does not mean there is no ‘tipping point’—it just may mean it could take more straws on the camel’s back to get there,” he wrote….
Dimon warned that the conflict could elicit several scenarios, ranging from higher inflation to rising recession risks.
“A bad confluence of events generally causes various degrees of a recession,” Dimon said, adding that this climate can lead to higher credit losses, rising unemployment, and volatile markets.
“While the economy may be less fragile than in the past, this alone does not mean there is no ‘tipping point’—it just may mean it could take more straws on the camel’s back to get there,” he wrote….
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