The U.S. economy will likely be in a ການຖົດຖອຍ by the summer of 2023, says Jamie Dimon. He’s the Chief Executive of JPMorgan Chase & Co.
Highlights from Dimon’s interview with CNBC
Dimon agreed the economy, for now, was in good shape and consumers were still spending 10% more on a year-over-year basis.
ທ່ານ ກຳ ລັງຊອກຫາຂ່າວໄວ, ຄຳ ແນະ ນຳ ທີ່ຮ້ອນແລະການວິເຄາະຕະຫລາດບໍ? ລົງທະບຽນ ສຳ ລັບຈົດ ໝາຍ ຂ່າວ Invezz, ມື້ນີ້.
But runaway inflation, continued rate hikes, quantitative tightening, and the Ukraine war, he warned in an ການສໍາພາດ with CNBC’s Julianna Tatelbaum are all pointing to a possible recession in the not-so-distant future.
These are very serious things, which I think are likely to push the U.S. and the world into some kind of a recession six to nine months from now.
Dimon, however, refrained from commenting on how severe that recession could be.
S&P 500 could lose another 20%
More alarming for investors, though, was his forecast for the S&P 500.
The benchmark index is already down 15% from its high in mid-August. But Jamie Dimon ເວົ້າວ່າ another significant move to the downside is not off the table.
I think the likely place you’ll see more of a crack and more of a panic is credit markets. S&P 500 a ways to go. It could be another easy 20% and the next 20% will be much more painful than the first.
If true, that forecast places S&P 500 below the 3,000 level. Last month, the U.S. Federal Reserve also agreed that chances of a "ການລົງຈອດທີ່ອ່ອນໂຍນ" would be rather slim as it continues to lift rates to fix inflation.
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