JPMorgan CEO Jamie Dimon says U.S. could see a ‘hard landing,' stagflation will be ‘worst outcome'

JPMorgan Chase’s CEO, Jamie Dimon, expressed concerns about the possibility of a hard landing for the U.S. economy. During a speech at the JPMorgan Global China Summit, Dimon acknowledged the likelihood of such an outcome. He believed that a worst-case scenario for the economy would be stagflation, characterized by rising inflation and slowed growth with high unemployment. Despite this, Dimon stated that consumers remain in good financial shape, referencing low unemployment rates, increasing wages, home prices, and stock prices. The recent release of minutes from the Fed’s May meeting revealed policymakers’ growing concerns about inflation, leading to uncertainty about easing monetary policy and rate cuts.