A year after calling geopolitics the world’s biggest risk, JPMorgan Chase CEO Jamie Dimon has sounded the alarm again, warning that the state of global stability has worsened.
During his visit to India, Dimon told CNBC: “My attention is all about geopolitics, which can determine the state of the economy.”
“Geopolitics is getting worse, not better. There is a possibility of accidents in the power supply. God knows if other countries are involved. We have a lot of wars going on right now,” he said, before referring to attacks carried out by Yemen’s Houthi rebel group that have taken place in the Red Sea.
According to the US, the Houthis have attacked at least two crude oil tankers this month.
Geopolitical instability “has most of my attention,” Dimon said, urging the US to prepare for a protracted war between Ukraine and Russia.
A year ago, the JPMorgan boss called geopolitics, following Russia’s invasion of Ukraine, the biggest risk he saw facing the world, bigger than high inflation or a recession in the US.
Regarding the US economy, James Dimon expressed skepticism, saying: “I’m a long-term optimist, but in the short-term, I’m also more skeptical than other people who say that everything [θα πάνε] wonderful. Markets price things like they’re great. Put me on the cautious side of that,” he said.
Just a few days earlier, he, speaking at the Georgetown Psaros Center for Financial Markets and Policy’s annual “Financial Markets Quality” conference, reiterated that geopolitical issues – including the wars in Ukraine and the Middle East, as well as the relationship of USA with China – are his main concern. “This eclipses any other I’ve had since I’ve been working,” he said.
“People are too focused on ‘are we going to have a soft landing, a hard landing?’ he said characteristically. “Honestly, most of us have been through all that stuff, it doesn’t really matter.”
Source OT
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