According to Odaily Planet Daily, JPMorgan Chase CEO Jamie Dimon recently said that he does not rule out the possibility of stagflation, although people's confidence that inflation is beginning to ease is growing.
Dimon warned at the Council of Institutional Investors’ fall meeting in Brooklyn, New York, that despite signs of a cooling economy, serious risks remain. He sees stagflation, or a recession and higher inflation, as the worst possible outcome.
Dimon expressed concern about inflationary pressures that could persist, citing factors such as increased government spending and rising deficits. He noted that while inflation data are improving, indicators such as employment and manufacturing show the economy is under pressure.
He stressed that despite some positive economic signals, major uncertainties remain and inflationary pressures could weigh on the U.S. economy. Dimon has been warning of an economic slowdown, believing the chances of a "soft landing" are only 35% to 40%.
