recession economy Dimon JPMorgan's Jamie Dimon: U.S. to face recession in 6-9 months, markets could become disorderly
The U.S. economy could be in a recession by the middle of next year, warned JPMorgan Chase & Co chief executive Jamie Dimon, adding that markets could become disorderly and the S&P 500 is at risk of falling another 20%.
Dimon added that the S&P 500 could fall by"another easy 20%" from the current levels. And the next 20% drop is likely to"be much more painful than the first," he noted."Rates going up another 100bps will be a lot more painful than the first 100 because people aren't used to it," Dimon said. On the Fed, Dimon said that the U.S. central bank waited too long and did too little, with QT starting too late. But the Fed is motivated to catch up now, he added."And, you know, from here, let's all wish him success and keep our fingers crossed that they managed to slow down the economy enough so that whatever it is, is mild — and it is possible," Dimon said.