An economic downturn is now looking increasingly likely in the US, according to JPMorgan boss Jamie Dimon.
The bank chief said he believed a recession was now a “likely outcome” for the US economy. That’s evident partly in the sell-off stocks, Dimon said, pointing to the sell-off fueled by Trump’s latest round of tariffs.
“I mean, when you see a 2,000-point decline, it sort of feeds on itself, doesn’t it,” Dimon said, speaking on Fox Business’s “Mornings with Maria” on Wednesday. Dimon was referring to the 2,000-point drop in the Dow Jones Industrial Average from its intraday peak on Tuesday. “It makes you feel like you’re losing money in your 401(k), you’re losing money in your pension. You’ve got to cut back.”
Dimon said the economy was alson’t on great footing prior to the presidential election, and tariffs had worsened the outlook. He pointed to rising…
