There is a higher risk of a serious fall in US stocks than is currently being reflected in the market, the head of JP Morgan has told the BBC.
Jamie Dimon, who leads America’s largest bank, said he was “far more worried than others” about a serious market correction, which he said could come in the next six months to two years.
In a rare and wide-ranging interview, the bank boss also said that the US had become a “less reliable” partner on the world stage.
He cautioned he was still “a little worried” about inflation in the US, but insisted he thought the Federal Reserve would remain independent, despite repeated attacks by the Trump administration on its chair Jerome Powell.
Shirasho@lemmings.world 3 weeks ago
Says the bank that gave 20 billion to the Saudis to buy EA. Going to start taking your financial advice with a large heap of salt.
IrateAnteater@sh.itjust.works 3 weeks ago
Why? From a moral standpoint, dealing with the Saudis is very suspect, but from a financial standpoint, lending money to Saudi Arabia makes perfect sense. Even if EA immediately becomes worthless, Saudi Arabia owes the bank that money still. And Saudi Arabia has more than enough cashflow now and for the foreseeable future to service that loan.
krashmo@lemmy.world 3 weeks ago
The fact that you don’t think there’s anything wrong with separating morals from the profit motive of capitalism tells us exactly why the world is the way it is.