Fox Business: US Economy Starting to Look 'More Like the 1970s,' JPMorgan Chase's Jamie Dimon Says
Article by Kristen Altus in Fox Business
Despite a generally optimistic outlook for the U.S. markets in the new year, the head of one of the country’s biggest banks is seemingly not convinced the Federal Reserve can achieve a soft landing as a result of their most aggressive rate hike campaign since the 1980s.
During an exclusive interview on "Mornings with Maria" Tuesday, JPMorgan Chase CEO Jamie Dimon warned about the possibility of a looming recession, while comparing the financial state to the turbulent period of 50 years ago when the nation endured a decade of high inflation.
"I look at a lot of things, and forget just economic models for a second, $2 trillion of fiscal deficit, the infrastructure and IRA act, the green economy, the re-militarization of the world, the restructuring of trade are all inflationary," he told host Maria Bartiromo. "And that looks a little more like the 1970s to me."
"So I think there's a chance here that ......