Dimon Warns Economic Boom Won't Last Amid Risks Like Ukraine War, Government Spending and Rate Hikes

JPMorgan Chase CEO Jamie Dimon warned the current "booming environment" for the US economy won't last due to risks like geopolitical tensions, government spending, and monetary tightening.
Dimon said the world has been "spending money like drunken sailors" and the war in Ukraine continues, signaling challenging times ahead.
Dimon remains skeptical of a soft landing for the economy, citing concerns about quantitative tightening, fiscal deficits, and the Inflation Reduction Act.
Tighter monetary policy works on a lag, so current business results may not reflect the full impact of interest rate hikes over the next 12-18 months.
The Federal Reserve has raised rates sharply to combat inflation, going from near zero to above 5% in just one year, the fastest pace of tightening since the 1980s.

foxbusiness.com

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