JPMorgan Chase CEO and Chairman Jamie Dimon speaks during a US Senate Banking, Housing and Urban Affairs Committee hearing on Wall Street firms, on Capitol Hill in Washington, US, December 6, 2023.
Evelyn Hochstein | Reuters
JPMorgan Chase CEO Jamie Dimon sees risks rising around the world amid widening conflicts in the Middle East and with the Russian invasion of Ukraine showing no signs of abating.
“We have been closely monitoring the geopolitical situation for some time, and recent events show that conditions are treacherous and getting worse,” Dimon said Friday in the bank's third-quarter earnings release.
He added: “There is great human suffering, and the consequences of these situations could have far-reaching effects on short-term economic outcomes and, more importantly, on the course of history.”
Dimon also said he remains cautious about the future of the economy, despite signs that the Fed has planned a soft landing.
“While inflation is slowing and the US economy remains resilient, many critical issues remain, including large fiscal deficits, infrastructure needs, trade restructuring and the remilitarization of the world,” Dimon said. “While we hope for the best, these events and the prevailing uncertainty highlight why we must prepare for any environment.”
This story is evolving. Please check back for updates.
