Jamie Dimon, CEO of JPMorgan Chase, leaves the American Capitol after a meeting with Republican members of the Senate Bank, Housing and Urban Affairs on the issue of Unchel on February 13, 2025.
Tom Williams | CQ-Roll Call, Inc. | Getty images
JPMorgan Chase CEO Jamie Dimon said on Monday that central markets and bankers underestimate the risks created by American record deficits, prices and international tensions.
Dimon, a veteran CEO and president of the largest American bank by assets, explained his vision of the world at the annual meeting of his bank's investor day in New York. He said he thought that the risks of higher inflation and even stagflation are not properly represented by stock market values, which staged a return from the stockings in April.
“We have enormous deficits; we have what I consider to be almost complacent central banks,” said Dimon. “You all think they can manage it all. I don't think they can,” he said.
“My own point of view is that people feel pretty good because you have not seen effective prices,” said Dimon. “The market has dropped by 10%, [it’s] Save 10%. It is an extraordinary quantity of complacency. “”
Dimon's comments follow the Moody rating agency by downgrading the credit note in the United States on Friday for concerns concerning the burden on the increasing government. The markets have been whipped in recent months in the concerns that President Donald Trump's trade policies will increase inflation and slow the greatest economy in the world.
Dimon said on Monday that he believed in the estimates of Wall Street's profits to S&P 500 Companies, which have already decreased in the first weeks of Trump's business policies, will still fall as companies hold or lower advice in the midst of uncertainty.
In six months, these projections will fall to 0% profits growth after starting the year at around 12%, Dimon said. If that were to happen, the prices of the shares will likely fall.
“I think that profits estimates will drop, which means that the EP will drop,” said Dimon, referring to the price / benefit ratio followed closely by stock market analysts.
The chances of stagflation, “which is essentially a recession with inflation”, are almost double what the market thinks, added Dimon.
In addition, one of the best Dimon deputies said that business customers were still in “waiting” mode with regard to acquisitions and other offers.
Investment banking income is directed to a drop in the percentage “in mid-adolescence” in the second quarter compared to the period of the year, while commercial income was up to a figure with a figure “of mid-height”, said Troy Rohrbaugh, a co-head of the commercial and investment of the company.
On the omnipresent question of the Dimon calendar to give the reins of the CEO to one of his deputies, Dimon said that nothing had changed his advice last year, when he said that he would probably remain for less than five years more.
“If I am here for four more years, and perhaps two others” as executive president, Dimon said: “It's long.”
Of all the executive presentations presented on Monday, the chief of the consumer bank Marianne Lake experienced the longest speaking time at a full hour. She is considered a successor candidate, especially after the chief of the farm Jennifer Piepszak said that she would not seek the first job.