Reported 2 days ago
In a recent warning, JPMorgan Chase CEO Jamie Dimon highlighted the potential long-term negative effects of trade wars on the U.S. economy, following a meeting with other bank leaders and Commerce Secretary Howard Lutnick. Dimon expressed concern that the newly announced tariffs could slow economic growth and lead to persistent inflation, while also escalating risks of recession. Prominent investors, including Bill Ackman, echoed similar fears, suggesting that the tariffs could severely damage business confidence and consumer spending. Dimon emphasized the urgency of resolving trade issues to mitigate cumulative negative impacts on the economy.
Source: YAHOO