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Fox Business: US Economy Starting to Look 'More Like the 1970s,' JPMorgan Chase's Jamie Dimon Says

January 12, 2024
Recession, Market Crash, Buy Gold and Silver

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 ......

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