JPMorgan chief government Jamie Dimon says that the worldwide financial system is going through a far better threat than persistent inflation or excessive rates of interest.
In a brand new interview on CNBC India, Dimon says that folks ought to put together for increased oil and fuel costs in addition to increased rates of interest.
Whereas Dimon is urging individuals and companies to be prepared for increased power prices together with tight financial insurance policies, he highlights that his primary concern is the present geopolitical scenario.
In keeping with Dimon, the struggle in Ukraine is negatively impacting oil, fuel and meals costs. He additionally notes that it’s “affecting all international relationships.”
“I believe the geopolitical scenario is the factor that the majority issues me, and we don’t know the impact of that on the financial system. Once more, I believe the humanitarian half – that’s way more essential.
I believe it’s crucial for the way forward for the free democratic world. We could also be at an inflection level for the free democratic world. That’s how significantly I take it…
Now we have handled inflation earlier than, we now have handled deficits earlier than [and] we now have handled recessions earlier than. We haven’t actually seen one thing like this gorgeous a lot since World Struggle II… There isn’t any playbook.”
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