JPMorgan CEO Warns Geopolitical Conflicts Are Creating Economic Risks Despite Bank Profit Gains

JPMorgan Chase CEO Jamie Dimon warns the Israel-Hamas conflict and war in Ukraine are creating major global economic risks.

Dimon says this may be the most dangerous time for the world in decades, with potential impacts on energy, food, trade, and geopolitics.

While Dimon avoids recession predictions, he notes risks like high inflation, rising rates, and consumers spending down pandemic savings.

JPMorgan profits jumped in Q3 as higher interest rates drove increases in net interest income.

Other major banks like Citi and Wells Fargo also benefited from rising rates, posting higher revenues.