May 23, 2024 05:27 GMT
JPM CEO Sounding US "Hard Landing" Warnings
FINANCIALS
JPMorgan (JPM: A1/A- pos/AA-) CEO on CNBC sounding warnings about US "hard landing":
*JPMORGAN'S DIMON SAYS US ECONOMY COULD SEE 'HARD LANDING': CNBC
*DIMON SEES 'STAGFLATION' AS WORST OUTCOME FOR US ECONOMY: CNBC
- Interesting view from Dimon as lower US rates, which is the implicit call, are a drag on his revenue line but the improved economic growth he hopes it would bring could kickstart the weaker fee businesses within the group, including ECM and DCM within the investment bank.
- The fear is also that, as one of the US’s largest retail banks and card issuers, he’s perhaps closer to the health of the US consumer than most and is starting to see early signs of credit stress coming through.
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