JPMorgan’s Dimon warns US faces ‘appreciable – Business News
JPMorgan Chase CEO Jamie Dimon has warned the US financial system is going through “considerable turbulence” from President Donald Trump’s threats to begin a world commerce conflict.
“The economy is facing considerable turbulence (including geopolitics), with the potential positives of tax reform and deregulation and the potential negatives of tariffs and ‘trade wars’, ongoing sticky inflation, high fiscal deficits and still rather high asset prices and volatility,” Dimon mentioned. “As always, we hope for the best but prepare the firm for a wide range of scenarios.”
His remarks come after Trump paused his reciprocal tariffs for 90 days on all nations aside from China. The White House mentioned it might hike levies to 145% on Chinese items, prompting Beijing to hit back with a 125% tariff on American merchandise.
JPMorgan CEO Jamie Dimon raised his issues in regards to the use of tariffs in an interview with Fox Business earlier this week. AP
Dimon made his feedback in a submitting as America’s largest bank reported a 9% increase in income for the beginning of 2025, registering $14.6 billion in internet income for the primary quarter of 2025.
That is up from $13.4 billion for a similar period a yr and beat analyst expectations of $13.6 billion. Earnings per share had been $5.07, beating a forecast from the London Stock Exchange Group of $4.63.
Dimon, who has been within the bank’s high job for almost twenty years, additionally fired a warning shot over how the uneconomic uncertainty may weigh closely on M&A activitiy sooner or later.
The veteran banker mentioned investment banking “clients have become more cautious amid an increase in market volatility driven by geopolitical and trade-related tensions,” however his bank’s Wall Street operations nonetheless carried out effectively within the first quarter of this yr.
This is a developing story. Please verify back for updates.
