JPMorgan Chase & Co. JPM, -0.47% CEO Jamie Dimon warned investors on Monday that he expects markets to remain volatile for the foreseeable future, and that the S&P 500 could easily fall another 20% as the Federal Reserve continues to raise interest rates.
“The next 20% could be much more painful than the first. Rates going up another 100 basis points will be a lot more painful than the first 100 because people aren’t used to it, and I think negative rates, when all is said and done, will have been a complete failure.” Since it’s impossible to “guess” exactly how bad things might get for both the economy and markets, investors and companies should “be prepared” for the worst-case scenario, Dimon said.
“The likely place you might see more of a crack or a little bit more of a panic is in credit markets. And it might be ETFs, it might be a country, it might be something you don’t suspect. If you make a list of all the credit crises…you cannot predict where they came from, although I think you can predict that this time it will happen,” he said.
That would include the share price of JPM and having damaging effects on stock options and net worth, no
Dimon and others like him HOPE to stir up fears of a recession so they can get more republicans in office -- because that's worked out so well for us. Let's stop being manipulated by people with greedy self interests.
Jamie Dimon just keeps predicting a recession. Eventually he'll be right? 🤷♂️ From April 2020.
He just wants more cacaine