JPMorgan Chase CEO Jamie Dimon told CNBC on Monday that the United States economy is «still doing well» but that he expects it to enter a recession within the next nine months.
Dimon warned that high inflation and rising interest rates, as well as the uncertainty about the war in Ukraine, are «very, very serious things which I think are likely to push the US and the world — I mean, Europe is already in recession — and they’re likely to put the U.S. in some kind of recession six to nine months from now.»
Several US Federal Reserve officials insisted the US can still avoid a recession, while some even stressed that, even if the economy does enter a recession, the bank should not stop with interest rate hikes.