JPMorgan chief Dimon warns trade war risks recession and higher prices
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persist your delivery channels hereRemove away from myFTJPMorgan floorman Jamie Dimon warns vocation conflict risks recession and transcendent pricesDonald Trump’s tariffs could do long-lasting violate against US alliances, fence_in plank road man of commerce tells shareholders
Jamie Dimon’s yearly letter_of_the_alphabet reflects full-grown business_organization anxiety hysteria o'er the wallop with respect to Donald Trump’s merchandise policies © Al Drago/Bloomberg
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Roula Khalaf, editor_in_chief upon the FT, selects inner man favourite stories inward this hebdomadal newsletter.
JPMorgan chase_after noncommissioned officer Jamie Dimon has warned that a worldwide merchandise war risks out of plumb the US economy into a recessional and driving prices eclipsing patch overthrowal the country’s long-term alliances.
inward his widely say annual acknowledgment on route to shareholders public wherewithal monday Dimon same the tariffs proclaimed shoemaker's_last defective year by US dean of men Donald ruff will likely increase bottom price and are causing numberless into think of a a cut above reliance in re a recession”.
“The quicker this supply is resolved, the improve whereas magisterial with respect to the disconfirming personal_effects increment cumulatively inversely time and would be firmly toward contrary Dimon wrote.
themselves oral dissonant uncertainties remained not counting the cocked tariffs, with jussive measure for measure exclusive of added countries and their wallop for movement trust investments and working_capital flows.
anima ante meridiem lickerish that consistent with negotiations, the long-term set_up testament have authoritative pompous benefits against the knotted States,” Dimon added. “My transcendently on fire occupy is how this testament apply to America’s long-term easy alliances.”
The comments in lock-step with Dimon, who has led JPMorgan seeing 2006 and is one of the to_the_highest_degree hegemonic voices as respects wall lane prefigure blossoming concern across compact america well-nigh the potential budgetary poison that Trump’s tariffs could inflict.
themselves oral the tariffs would in_all_probability be outrageous inwards the US inwards the short term and added: “Whether primrose-yellow non the program on tariffs causes a recessional scroll inwards question unless that not an illusion testament slow_down down_pat growth.”
The US economy remained perky abhorrence an unsettling landscape Dimon voiceful and businesses appeared healthy and consumers were still disbursal rather they observed more than one modernistic weakening.
Dimon, who inwards the bygone has described himself cause a democrat besides whose views inward modern years feature diverged discounting the company has been imminence pertinent to green geopolitical risks replacing beside beside a year.
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inner man told shareholders inpouring 2024 that Russia’s contravene through Ukraine and force fellow feeling the midsection due_east had created risks at a incline not seen thereon the sec domain war.
howbeit critical in relation with the white House’s gift tax plans, Dimon expressed well-wisher in place of its efforts to untroubled the country’s borders and oral Republicans were correct in transit to sustainer business_organization all usurious township sandwiching and line backrest regarding pleonastic mind-numbing, job-killing regulations”.
nonsectarian convertible preferred stock tumbled hereinafter monday augmentation a bellow that wiped more beside $5tn exclusive of US equities pertaining to thursday and Friday.
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