Jamie Dimon said he was "far more worried than others" about the potential for a stock market correction.

There is a higher risk of a serious fall in US stocks than is currently being reflected in the market, the head of JP Morgan has told the BBC.

Jamie Dimon, who leads America’s largest bank, said he was “far more worried than others” about a serious market correction, which he said could come in the next six months to two years.

In a rare and wide-ranging interview, the bank boss also said that the US had become a “less reliable” partner on the world stage.

He cautioned he was still “a little worried” about inflation in the US, but insisted he thought the Federal Reserve would remain independent, despite repeated attacks by the Trump administration on its chair Jerome Powell.

  • Shirasho
    191·
    3 days ago

    Says the bank that gave 20 billion to the Saudis to buy EA. Going to start taking your financial advice with a large heap of salt.

    • IrateAnteater@sh.itjust.works
      12·
      3 days ago

      Why? From a moral standpoint, dealing with the Saudis is very suspect, but from a financial standpoint, lending money to Saudi Arabia makes perfect sense. Even if EA immediately becomes worthless, Saudi Arabia owes the bank that money still. And Saudi Arabia has more than enough cashflow now and for the foreseeable future to service that loan.

      • krashmo@lemmy.world
        35·
        3 days ago

        The fact that you don’t think there’s anything wrong with separating morals from the profit motive of capitalism tells us exactly why the world is the way it is.

        • IrateAnteater@sh.itjust.works
          9·
          3 days ago

          I’m talking about who’s financial advice is valid. I’ve said absolutely fuck-all about about what you should allow to dictate your final action.

          Could be that I think the morals should override the profit motive. Could be that I think profit overrides everything. Could be somewhere in-between. You don’t know, because I never said.

          • krashmo@lemmy.world
            21·
            3 days ago

            Perhaps I read into the structure of your comment too much but it really looked to me like you were making a definite statement about it and not simply contrasting the two options. Apologies if that was not your intent.

            • IrateAnteater@sh.itjust.works
              4·
              3 days ago

              Guessing intent is too difficult to do in a two sentence comment. I always try to just go with what what is explicitly written.

              In this case I was just responding to the original commenter saying saying he’d take JP Morgan advice with a grain of salt due to the Saudi-EA deal. The morality of JP Morgan being involved in that deal doesn’t really factor into evaluating whether or not Jamie Dimon may be right in his public remarks about the future of stock prices.

              An evaluation of the morality of that deal would be relevant if I were deciding whether or not to do business with JP Morgan, or to buy anything from EA.

  • rauls5@lemmy.zip
    61·
    3 days ago

    Hasn’t he been saying this for years? I mean, if he keeps saying it at some point he will be right. Like a broken clock.

  • MehBlah@lemmy.worldEnglish
    2·
    3 days ago

    We know, we know. I’ve been waiting for it. There is a good chance all the manipulation in place will break for a time. In that environment the hedge funds may lose control like they nearly did when the memestock thing happened. I have very little invested in that and it will be fun to watch marge calling them.