Jamie Dimon — the anti-bitcoin CEO of JPMorgan Chase — says a global recession is not coming, so everyone needs to “take a deep breath” and chill out. Dimon said the Dow and other stock market indices are merely experiencing a temporary hiccup, but that doesn’t mean the US economy will slide into a recession anytime soon.
“It looks to me like a slowdown [not a recession],” Dimon told Fox Business (video below). “Sentiment changed dramatically for a whole bunch of different reasons. But the United States is still growing, at 2.5%. We just had some good wage data.” It’s very possible we have a slowdown. People [should] take a deep breath. Things will open up a little bit.
Dimon said the recent stock market slump occurred due to concerns about rising interest rates and a potential US trade war with China. But things have calmed down since then, and the market has rebounded nicely.