Jamie Dimon Just Dropped a Recession Warning Investors Can't Ignore
Jamie Dimon, CEO of JPMorgan, warned at the Global Markets Conference in Paris that a recession remains a possibility due to ongoing trade tensions and tariff impacts. He noted that while trading volumes are high, some clients are hesitant to invest. Dimon emphasized the need for trade peace and urged U.S. officials to address these issues. Despite concerns, he believes the U.S. remains a viable investment destination, although he cautioned that favorable market conditions may not last.
Recession? Still in play, according to Jamie Dimon. Speaking from Paris at JPMorgan's annual Global Markets Conference, the bank's CEO didn't mince words: the fallout from Trump's tariff shocksstarting with his April 2 Liberation Day moveis still reverberating. Dimon said the volatility has kept trading volumes high, but it's also forcing some clients to hit pause on fresh investments. Hopefully we'll avoid it, he said, referring to a recession, but I wouldn't take it off the table.
Dimon has been one of the more measured voices on trade risk, but even he's admitting this latest round of tariff brinkmanship is doing damage. While the temporary tariff pause between the U.S. and China helps, it may not be enough to offset the longer-term chill it's putting on investor sentiment. Some foreign buyers, he says, are quietly backing off American goodsand that could lead to a gradual pullback in cross-border capital flows. Still, he doesn't see the U.S. as uninvestable. If you were to take all your money and put it in one country, Dimon added, it would still be America.
That said, he's urging Washington to stop fanning the flames. Dimon wants Treasury Secretary Scott Bessent to take the lead in hammering out trade peace deals. He's also hopeful that Europe and the U.K. can mend fences post-Brexitsomething he calls partially making up for the disaster that Brexit became. For now, JPMorgan's trading desks are making the most of the volatility, raking in record Q1 revenues. But Dimon made one thing clear: good volatility doesn't last forever.
