Jamie Dimon, CEO of JPMorgan Chase, warns President Trump that the US economy is facing “substantial turbulence” from the threat of launching a global trade war.
“The economy is facing considerable turbulence (including geopolitics), with the potential positives of tax reform and deregulation, tariffs and “trade wars”, continuous expansion of stickiness, high financial obstacles, and rather the potential negatives of high asset prices and instability.” “As always, we want the best, but we prepare our company for a wide range of scenarios.”
Dimon commented in the filing as America's largest bank reported a 9% increase in profits from the start of 2025 and registered a net profit of $14.6 billion in the first quarter of 2025.
This rose from $13.4 billion during the same period of the year, reaching analysts' forecasts of $13.6 billion.
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