JPMorgan’s Dimon Warns of ‘Unsettling’ Pressures as Bank’s Earnings Wobble

The New York Times reports:

Jamie Dimon, the chief executive of JPMorgan Chase, on Friday warned of an “unsettling” global landscape, highlighting a cascade of pressures including war, rising geopolitical tensions and inflation that threaten the economy and could weigh on the performance of the nation’s largest bank. Mr. Dimon’s remarks, made concurrently with his bank’s weaker-than-expectedquarterly earnings report, add to his litany of concerns about the U.S. economy as the Federal Reserve grapples with when or whether to lower interest rates, particularly in light of this week’s hotter-than-expected inflation data. “We have never truly experienced the full effect of quantitative tightening on this scale,” Mr. Dimon said in a statement, referring to the Fed’s efforts to cool down the economy.

Change is coming.