Rising inflation, along with costlier loans and dropping demand - it is the recipe for a perfect storm. That is exactly what Jamie Dimon, CEO of JPMorgan Chase is warning investors as they brace for what he calls an "Economic Hurricane"
“That hurricane is right out there down the road coming our way,” the JPMorgan Chase & Co. chief executive officer said at a conference “We don’t know if it’s a minor one or Superstorm Sandy. You better brace yourself.”
Talking about relief rally Dimon warned that “Right now, it’s kind of sunny, things are doing fine, everyone thinks the Fed can handle this. That hurricane is right out there, down the road, coming our way.”
The other large factor worrying Dimon is the Ukraine war and its impact on commodities, including food and fuel. Oil “almost has to go up in price” because of disruptions caused by the worst European conflict since World War II, potentially hitting $150 or $175 a barrel, Dimon said.