{"id":2112620,"date":"2023-11-30T18:10:02","date_gmt":"2023-11-30T23:10:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/jpmorgan-ceo-jamie-dimon-wall-street-should-prepare-for-a-recession\/"},"modified":"2023-11-30T18:12:53","modified_gmt":"2023-11-30T23:12:53","slug":"jpmorgan-ceo-jamie-dimon-wall-street-should-prepare-for-a-recession","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/jpmorgan-ceo-jamie-dimon-wall-street-should-prepare-for-a-recession\/","title":{"rendered":"JPMorgan CEO warns Wall Street to brace for recession"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fjpmorgan-ceo-jamie-dimon-wall-street-should-prepare-for-a-recession%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2112620&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\"><br \/>\n<?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><html><body><\/p>\n<div class=\"entry-content\">\n<figure class=\"wp-block-image size-large\"><figcaption class=\"wp-element-caption\">(L-R) Andrew Ross Sorkin and Jamie\u2062 Dimon speak onstage during The New York Times Dealbook Summit \u200c2023 at Jazz at Lincoln Center \u200don November \u200b29, 2023 \u200din New York City. (Photo by\u200c Slaven Vlasic\/Getty Images for \u200bThe New York Times)<\/figcaption><\/figure>\n<h2>OAN\u2019s <a href=\"https:\/\/www.oann.com\/tag\/james-meyers\">James Meyers<\/a><br \/>2:45\u200b PM \u2013 Thursday, November 30, 2023<\/h2>\n<p>JPMorgan CEO Jamie\u200c Dimon emphasizes the need \u200dfor Wall Street to\u2062 be better prepared for a potential recession.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-3\" style=\"min-width: 320px; min-height: 50px; text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-3'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>He sounded the alarm on\u200d the real possibility of a recession saying, \u201cA lot of things out there \u200dare\u200c dangerous and inflationary. Be prepared.\u201d Dimon said this while at the <em>New York \u200bTimes<\/em> DealBook Summit in \u200bNew York on Wednesday.<\/p>\n<\/blockquote>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote data-service=\"twitter\" data-category=\"marketing\" data-placeholder-image=\"https:\/\/c3.oann.com\/wp-content\/plugins\/complianz-gdpr\/assets\/images\/placeholders\/twitter-minimal.jpg\" class=\"cmplz-placeholder-element twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Jamie \u2063Dimon: \u201cWe\u2019re in a SUGAR HIGH\u2026We\u2019ve never\u200c had QT before. I think it may bite more than other people.\u201d<a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#bitcoin<\/a> <a href=\"https:\/\/t.co\/3M7fnvjdmU\">pic.twitter.com\/3M7fnvjdmU<\/a><\/p>\n<p>\u2014 Swan.com (@Swan) <a href=\"https:\/\/twitter.com\/Swan\/status\/1730213379619320193?ref_src=twsrc%5Etfw\">November 30, 2023<\/a><\/p><\/blockquote>\n<p><script type=\"text\/plain\" data-service=\"twitter\" data-category=\"marketing\" async data-cmplz-src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script> <\/div>\n<\/figure>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cInterest rates may go up and that might lead to recession,\u201d he added, according to <em>CNN Business<\/em>.<\/p>\n<\/blockquote>\n<p>The remarks come \u2062after Federal\u200c Reserve officials have\u200d decided\u2063 to keep the\u2062 <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/federal-reserve-expected-to-hike-interest-rates-this-week-for-first-time-in-three-years\/\" title=\"Federal Reserve Expected to Hike Interest Rates This Week for First Time in Three Years\">benchmark federal funds rate<\/a> between \u20645.25% and 5.5%, which is a 22-year \u200chigh.<\/p>\n<p>Economists have also been\u2063 divided on what the next move is for the economy and whether \u200cor not it means the economy will have a soft landing \u2063or hard landing.<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cI\u2019m cautious about the \u200ceconomy,\u201d Dimon said, per <em>CNN<\/em>.<\/p>\n<\/blockquote>\n<p>Meanwhile, the\u200d Bureau of \u200dLabor Statistics reported in October that the U.S. economy \u2063added \u200b150,000 positions, which is a sign\u200c that an interest rate cut\u200d is on the \u2064horizon. <\/p>\n<p>Currently, \u200cthe unemployment rate is at\u2062 3.9%, which is \u2062above the Fed\u2019s 3.8% year end-forecast. <\/p>\n<p>In June 2022,\u2062 inflation was at a staggering 9.1% and rates have continued to increase. <\/p>\n<p>During an interview with <em>Bloomberg TV<\/em> in October, Dimon claimed \u2063that interest\u200d rates will hike up to a high \u20637%, which would \u200cmake it\u200b the highest \u200crate since 1990.<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>Hedge \u2063fund\u200d expert Bill Ackman said earlier in the week that the \u2062Federal Reserve needs to cut interest rates as soon as the first quarter to dodge \u201ca real risk of a hard \u200blanding\u201d for the U.S. \u200deconomy.<\/p>\n<\/blockquote>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cWhat\u2019s \u2062happening\u2063 is the \u2064real rate\u200c of interest, which is \u2063what \u200cimpacts\u2064 the economy, keeps increasing \u200cas inflation declines,\u201d said\u2064 the Pershing Square Capital Management \u200bfounder.<\/p>\n<\/blockquote>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cI think there\u2019s a real risk of a hard landing if the Fed \u2062doesn\u2019t\u200d start cutting rates pretty soon,\u201d Ackman added, per Bloomberg, noting \u2064that he\u2019s\u200c seen evidence of\u200b a weakening economy.<\/p>\n<\/blockquote>\n<p>Stay informed! Receive \u200cbreaking news blasts \u200bdirectly to your inbox for free. Subscribe here. <a href=\"https:\/\/www.oann.com\/alerts\">https:\/\/www.oann.com\/alerts<\/a><\/p>\n<\/p>\n<div id=\"rc-widget-10bad2\" data-rc-widget data-widget-host=\"habitat\" data-endpoint=\"\/\/trends.revcontent.com\" data-widget-id=\"278641\"><\/div>\n<p class=\"dpsp-share-text\" style=\"margin-bottom:10px\"> \t\t \t\tShare this post!\t<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>The \u200cCOP28 Summit kicks off \u2062in Dubai\u200d with a formal \u2064adoption of an agreement to \u200ccreate a new climate\u200d disaster \u2063fund. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>California Governor \u2062Gavin Newsom and Florida Governor Ron DeSantis \u2064are \u200dset to debate one another tonight, but some are questioning DeSantis\u2019 \u200bmotives for participating in the \u2062spectacle.\u200d <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>The families of people taken \u200chostage by Hamas speak on Capitol Hill. \u200bOne America\u2019s Jericho Dancel has more.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>After two House \u2062Democrats introduce a privileged motion to expel embattled \u2064representative \u200cGeorge Santos. House \u200cSpeaker Mike Johnson expresses reservations about the push.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>More advertisers are likely \u200cto flee Elon\u200c Musk\u2019s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/trump-received-letter-stating-he-is-target-of-january-6-investigation\/\" title=\"Trump informed of being investigated for January 6 incident.\">social \u200dmedia\u200d platform<\/a> X after the billionaire \u200blashed out \u2064at \u200dsome of the biggest names in the media industry.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>We \u2062asked ChatGPT, OpenAI\u2019s\u200c viral chatbot,\u2064 how \u2064it felt on its first birthday.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>4:05 PM UTC \u2063\u2013 November 29, 2023 LONDON (Reuters)\u200d \u2013 Google\u200d DeepMind has used artificial intelligence (AI) to predict the structure of\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>November\u2062 29, 2023 \u200d\u2013 10:58 AM UTC BERLIN \u200c(Reuters) \u2013 Germany\u2019s Bitcoin Group\u200d (ADE.DE) said on Wednesday it was taking measures to\u2026 <\/p>\n<\/p><\/div>\n<p> rnrn  <\/p>\n<h2> What steps should investors and financial\u2063 institutions take to \u200bbetter prepare for a potential \u2062recession,\u200c according to Jamie Dimon and \u2062other experts<\/h2>\n<p><span>  JPMorgan CEO Jamie Dimon Highlights the Need to Prepare for a Potential Recession<\/p>\n<p>During the New York Times DealBook Summit on Wednesday, JPMorgan CEO\u200c Jamie Dimon emphasized the importance of\u200d Wall Street being better prepared for a potential recession. Dimon sounded the alarm on\u2064 the real\u2062 possibility of \u200ca \u200crecession,\u2064 stating, \u200d&#8221;A lot of\u200b things out \u2062there are \u200bdangerous and\u200d inflationary. Be prepared.&#8221; His \u200cwarning comes at a time when there is uncertainty regarding the direction of the economy.<\/p>\n<p>Dimon&#8217;s concerns about a \u200bpotential recession are \u200bnot unfounded. The remarks follow the Federal Reserve&#8217;s \u200bdecision to maintain the benchmark federal funds rate at a 22-year high, between 5.25% and 5.5%. \u2062This decision\u200d has sparked a debate among economists\u2062 regarding the next \u2062move for \u200bthe economy and whether it\u2063 will result in a soft landing or a hard \u2064landing.<\/p>\n<p>&#8220;I&#8217;m cautious about the economy,&#8221; Dimon said, echoing the concerns\u2064 shared by many experts. The Bureau of Labor Statistics reported in October that the\u200b U.S. economy added 150,000 positions, indicating that an interest \u2062rate cut\u2064 may be on the horizon. However, the \u200dcurrent\u2064 unemployment rate of 3.9% is above the\u2062 Federal Reserve&#8217;s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/federal-reserve-may-adopt-more-restrictive-policy-in-the-event-elevated-inflation-continues\/\" title=\"Federal Reserve May Adopt More Restrictive Policy in the Event Elevated Inflation Continues\">year-end forecast<\/a> \u2062of 3.8%.<\/p>\n<p>Inflation has also been\u200b a \u2062cause \u200dfor concern. In June 2022, inflation reached a \u2063staggering 9.1% and has continued\u2062 to increase \u200csince then. Dimon predicted that interest rates could rise to as high as 7%, the highest rate since \u20631990. This would have significant implications\u200d for the economy.<\/p>\n<p>Hedge fund \u200cexpert Bill Ackman also shared his concerns about the economy, calling for the Federal Reserve to cut interest \u2064rates \u2063as soon as the first quarter \u200bto avoid a hard landing. Ackman highlighted the increasing real rate \u200cof interest, which impacts the economy, as inflation declines. He warned of \u2063the \u200drisk of a hard\u200d landing if the Fed does not take action soon, citing evidence \u2064of a weakening economy.<\/p>\n<p>In conclusion, Jamie Dimon&#8217;s warning \u200dabout the possibility of a \u2062recession and the need for better \u200dpreparation should be taken seriously. With\u200d concerns about inflation, interest rates, and the \u200doverall state of the economy, it is \u200bcrucial for investors and\u200c financial institutions to be proactive in their risk \u200bmanagement strategies. Only through careful planning and adequate preparation can we\u2062 mitigate the potential impact of a recession and ensure the \u2062stability \u2064of our financial markets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>JPMorgan CEO Jamie Dimon discusses Wall Street at The New York Times Dealbook Summit 2023 in NYC. (Photo: Slaven Vlasic\/Getty Images)<\/p>\n","protected":false},"author":2301,"featured_media":2112621,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2112620","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2112620","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2301"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2112620"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2112620\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2112621"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2112620"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2112620"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2112620"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}