The entire business world is eagerly anticipating the Federal Reserve's move to start trimming interest rates but not Jamie Dimon. Instead the JPMorgan Chase CEO wants the Fed to wait until the prospect of a recession in the US is "off the table."
There is a general consensus among economists that the US is headed for a soft landing and Dimon doesn't discount that idea although he is not as bullish as other projections are. "The world is pricing in a soft landing, at probably 70-80%," he said addressing the Australian Financial Review Business Summit in Sydney through a video link.
"I think the chance of a soft landing in the next year or two is half that. The worst case would be stagflation." He puts the odds of a recession at around 65%
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
