JPMorgan Chase & Co. CEO Jamie Dimon on Friday warned of potential risks to the economy's future, citing the war in Ukraine and Israel's war against Hamas and Hezbollah.
“Significant human costs have occurred, and the consequences of these situations have far-reaching implications for both short-term economic outcomes and, more importantly, the course of history,” Dimon said on the bank's third-quarter earnings call. It could have an impact.”CNBC.
JP Morgan Chase Posted Net income fell 2% year over year to $12.9 billion. Sales rose 6% to $43.4 billion, the report said.
Even so, CNNreportedDimon said that while inflation appears to be slowing and the country has avoided recession, “there are still some key challenges ahead, including large budget deficits, infrastructure demands, trade restructuring, and global remilitarization.” remains,” he warned.
“Inflation is slowing and the U.S. economy remains resilient, but there are a number of challenges, including large budget deficits, infrastructure demand, trade restructuring, and global remilitarization,” Dimon said, according to CNBC. Important questions remain.”
In response to Dimon's point, CNBC reported last week that the Russian government approved a budget that would increase defense spending by 25% starting in 2024.
