So, interest rates will keep going up—where's the ceiling, who knows?—labor shortages and inflation are hanging around—employment appears to be getting stronger and Bloomberg has declared that only rich people will be able to afford new cars for the foreseeable future—and Larry Summers and Jamie Dimon agree that they have no idea what's going to happen next.
JPMorgan boss Dimon, who last year told us there was "a hurricane" bearing down on the US economy that would either blow out to sea or become a Cat 5, appeared on CNBC yesterday to express his concern about the level of uncertainty over where the economy is headed, calling it "worse than usual."
Then he declared that there's "some scary stuff out in front of us," citing a list that included "Russia, Ukraine, oil, gas, war, migration, trade, China"—and Fed Rate hikes.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
