{"id":16361,"date":"2023-01-12T01:21:37","date_gmt":"2023-01-12T01:21:37","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/i-shouldnt-ever-use-the-word-hurricane-economics-bitcoin-news\/"},"modified":"2023-01-12T01:21:37","modified_gmt":"2023-01-12T01:21:37","slug":"i-shouldnt-ever-use-the-word-hurricane-economics-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/i-shouldnt-ever-use-the-word-hurricane-economics-bitcoin-news\/","title":{"rendered":"‘I Shouldn’t Ever Use the Word Hurricane’ \u2013 Economics Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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JPMorgan Chase CEO Jamie Dimon says he \u201cshouldn\u2019t ever use the word hurricane\u201d when warning about the U.S. economy. However, he insisted that there are \u201cstorm clouds\u201d that \u201ccould be a hurricane.\u201d<\/strong><\/p>\n

JPMorgan CEO Jamie Dimon on US Economy<\/h2>\n

The chief executive of global investment bank JPMorgan Chase, Jamie Dimon, discussed the U.S. economy in an interview with Fox Business Tuesday.<\/p>\n

Regarding his previous warning about an incoming economic hurricane<\/a> that everybody should brace for, Dimon said:<\/p>\n

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I shouldn\u2019t ever use the word hurricane.<\/p>\n<\/blockquote>\n

He clarified: \u201cWhat I said was there were storm clouds which may mitigate, and people said, \u2018Oh, he doesn\u2019t think it\u2019s a big deal.\u2019 So I said, \u2018No, those storm clouds could be a hurricane.’\u201d<\/p>\n

The JPMorgan boss emphasized that he is not predicting a specific scenario, adding that what he is warning about could \u201cbe nothing\u201d or \u201ccould be bad.\u201d He stated: \u201cI think we should understand that I\u2019m not predicting one or the other, I\u2019m just saying, be a little prepared for both of them.\u201d<\/p>\n

Despite the current uncertain economic environment, Dimon is still optimistic about the American consumer. \u201cThe consumer is still strong,\u201d he described. \u201cTheir balance sheets are in good shape. They\u2019re spending 10% more than pre-Covid. They have more in their checking account companies that are in good shape, and that\u2019s driving a strong economy.\u201d<\/p>\n

Regarding the oil crisis, the JPMorgan boss said: \u201cIt\u2019s heightened because of Russia, Ukraine, oil, energy, food, quantitative tightening.\u201d<\/p>\n

Commenting on the Federal Reserve raising interest rates, the executive opined:<\/p>\n

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Is it going to be enough to raise rates to 5%? And this is having a huge effect on smaller countries, poor nations, those who are reliant on importing oil and gas.<\/p>\n<\/blockquote>\n

Those uncertainties \u201cmay very well mitigate,\u201d resulting in a \u201ckind of Goldilocks mild recession,\u201d he added. \u201cBut they may not,\u201d he also cautioned. \u201cSo, I\u2019m still on the cautious side of this one.\u201d In October last year, Dimon said a recession<\/a> could hit in six months. In August, he said something worse<\/a> than a recession could be coming.<\/p>\n

What do you think about the statements by JPMorgan Chase CEO Jamie Dimon? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nKevin Helms <\/h6>\n

\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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