Dimon's Persistent Economic Warnings

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JPMorgan Chase CEO Jamie Dimon

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JPMorgan Chase

CNBC

•

Business

Business & Economics

This is why Jamie Dimon is so gloomy on the economy

Summary

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79% Informative

JPMorgan Chase CEO Jamie Dimon has regularly warned that the U.S. economy faces perils, but even as he sounds the alarm, his bank is doing better than ever.

Dimon 's warnings about economic calamities became more frequent even as his bank’s performance began lapping rivals.

JPMorgan generated six record annual profits from 2015 to 2024 , twice as many as in his first decade as CEO.

JPMorgan is now the world's most valuable publicly traded financial firm and is spending $18 billion annually on technology.

Former Citigroup CEO Chuck Prince said in 2007 that "as long as the music is playing, you've got to get up and dance" Banking is ultimately a business of calculated risks, and its CEOs have to be attuned to the downside.

Dimon has no shortage of things to worry about, despite his bank generating a record $58.5 billion in profit last year .

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informal

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English

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