Jamie Dimon, CEO of JPMorgan Chase, warned at the International Financial Association conference that geopolitical risks have surpassed economic prospects, stating that "the third world war has already begun." He expressed regret over the Russia-Ukraine conflict and the situation in the Middle East, noting an increase in cooperation among American adversaries. His bank's risk management team has conducted scenario analysis to assess the potential impact of global conflicts on the economy. Dimon is considered a candidate for future Treasury Secretary, and despite his close ties to the Democratic Party, he also commands respect from both parties
Jamie Dimon, CEO of JPMorgan Chase, usually closely monitors the financial markets and the operations of the Federal Reserve, but now he is most concerned about geopolitics.
Economic Outlook "It pales in comparison to the geopolitical situation we face," he told the audience at the annual meeting of the Institute of International Finance in Washington, D.C.
He expressed regret over the Russia-Ukraine conflict and the situation in the Middle East, mentioning the increasing cooperation among American adversaries.
Dimon believes that the system established by the United States and its allies after World War II ushered in an unprecedented era of global economic growth, "and they are clearly talking about unraveling that system."
He said, "The risks are enormous. The third world war has already begun, with ground battles now coordinated in multiple countries."
He mentioned that his bank's risk management team has conducted "scenario analyses that will shock you," involving the economic impact of uncontrolled global conflicts.
This is why the CEO of JPMorgan Chase stated on Thursday that nuclear proliferation is "the greatest risk facing humanity," even more serious than climate change.
The leader of the world's largest bank is a registered Democrat, but has long had supporters in both parties - those who respect his pro-business policies and his reputation for competence.
Both parties see Dimon as a potential candidate for Treasury Secretary, as speculation grows that this Wall Street veteran will soon be ready for the next challenge after JPMorgan Chase.
Despite his close ties to the Democratic Party, Republican Senator Mike Rounds of South Dakota told Politico earlier this week that Dimon would be a "good choice" for a potential Treasury Secretary in a Trump administration.
The New York Times reported on Tuesday that Dimon "privately" supports Vice President Harris, but he will not make a public statement. According to unnamed sources cited in the report, Dimon would consider serving in a possible Harris administration, including as Treasury Secretary