Jamie Dimon Warns of a ‘Bad Recession’ Due to Coronavirus Crisis

JPMorgan Chase main govt officer Jamie Dimon explained he expects the economic fallout from the coronavirus pandemic to consist of a bad recession and pressure the fiscal program in ways very similar to the 2008 fiscal disaster.

In his annual letter to shareholders, Dimon explained the largest bank in the U.S. was getting into the disaster from a position of strength but the pandemic presented challenges that had been “dramatically different” from these imagined in the Federal Reserve stress checks.

JP Morgan Chase CEO Jamie Dimon

“After the disaster subsides (and it will), our region should thoroughly assessment all features of our preparedness and response,” Dimon explained. “And we should use the option to closely assessment the economic response and ascertain whether or not any extra regulatory modifications are warranted to make improvements to our fiscal and economic program. There will be a time and spot for that — but

Read More