JPMorgan chief government Jamie Dimon says that the worldwide economic system is dealing with a far higher danger than persistent inflation or excessive rates of interest.
In a brand new interview on CNBC India, Dimon says that individuals ought to put together for larger oil and gasoline costs in addition to larger rates of interest.
Whereas Dimon is urging folks and companies to be prepared for larger power prices together with tight financial insurance policies, he highlights that his primary concern is the present geopolitical state of affairs.
In accordance with Dimon, the battle in Ukraine is negatively impacting oil, gasoline and meals costs. He additionally notes that it’s “affecting all international relationships.”
“I believe the geopolitical state of affairs is the factor that the majority issues me, and we don’t know the impact of that on the economic system. Once more, I believe the humanitarian half – that’s way more necessary.
I believe it’s crucial for the way forward for the free democratic world. We could also be at an inflection level for the free democratic world. That’s how significantly I take it…
Now we have handled inflation earlier than, we’ve handled deficits earlier than [and] we’ve handled recessions earlier than. We haven’t actually seen one thing like this gorgeous a lot since World Battle II… There isn’t a playbook.”
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