Dimon (JP Morgan) warns: “Economic storm clouds are forming, the doubt is their severity”
JPMorgan Chief Executive Jamie Dimon has signaled that the US economy is facing “storm clouds,” according to prepared testimony.
“As these storm clouds gather on the horizon, even the best and brightest economists are divided on whether they could turn into a major economic storm or something far less serious,” Dimon’s testimony states.
He also said strict rules requiring banks to hold more capital pose a significant economic risk, curbing banks’ ability to lend.
“This is bad for the United States, as it puts regulated banks at a disadvantage at precisely the wrong time, causing them to be capital-constrained and slow growth in areas like lending, as the country enters difficult economic conditions.” he warned.
If you want to enter the TV Business Academy, this is the link
Follow us live ➡️ https://bit.ly/2Ts9V3p
Subscribe to our channel: https://bit.ly/3jsMzp2
Visit Business TV https://bit.ly/2Ts9V3p
More TV Business videos on YouTube: https://bit.ly/3edxt61
Follow us on Telegram: https://t.me/businesstv
Follow us on Instagram: https://bit.ly/3oytWnd