“Get ready for a hurricane in the economy,” says the CEO of the largest US bank
1 min read
Jamie Timon said the bank was preparing for turmoil by being conservative in its balance sheet, highlighting the aftermath of the war in Ukraine.
247 – Jamie Dimon, CEO of JPMorgan, America’s largest bank, warned on Wednesday (1) of what he called a “hurricane” in the economy, including the Federal Reserve (Fed) and the war in Ukraine.
“I said at first that there were storm clouds, but I’m going to change the word. It’s a hurricane. You better prepare,” Timon said, according to the American network CNBC.
Dimon said the bank was preparing for turmoil by being conservative in its balance sheet, and highlighted the aftermath of the war in Ukraine. “We have not taken enough steps to protect Europe from what is going to happen to oil in the short term,” he said.
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