JPMorgan's Jamie Dimon can't shake the worry America is headed for a repeat of 1970s-style stagflation [Yahoo! Finance]
JP Morgan Chase & Co. (JPM)
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Source: Yahoo! Finance
Speaking at the Economic Club of New York on Tuesday, JPMorgan CEO Dimon said now more so than ever the economy is resembling the 1970s , when both inflation and unemployment was high but economic growth was weak. This week's warning wasn't the first time the boss of America's biggest bank tested the theory. Last month he told CNBC's Fast Money Halftime Report that while the economy is fairing reasonably well, “markets change their mind pretty quickly." He added: “Remember, in 1972 you felt great, too. And before any crash, you felt great, and then things change.” The Harvard alumni repeated his fears this week, saying: "I worry it looks more like the '70s than we've seen before." Yet the CEO who was paid $36 million for his work in 2023 also hinted that some factors may be worse-off in 2024 than they were in 1970. He explained: "If you go bak to the 70s deficits were half of what they are today, the debt to GDP was 35%, not 100%, and so part of the reason I think we've had thi
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News
- ‘Too Big to Fail' Banks Have Unfair Advantage, CFPB Chief Says [BNN Bloomberg (Canada)]BNN Bloomberg
- Fed-Obsessed Traders Need the Economy to Get Its Story Straight [Yahoo! Finance]Yahoo! Finance
- The 100 Best & Brightest MBAs: Class Of 2024 [Yahoo! Finance]Yahoo! Finance
- Fed-Obsessed Traders Need the Economy to Get Its Story Straight [BNN Bloomberg (Canada)]BNN Bloomberg
- JPMorgan Chase Investor Day 2024Business Wire
JPM
Earnings
- 4/12/24 - Beat
JPM
Sec Filings
- 5/3/24 - Form FWP
- 5/3/24 - Form FWP
- 5/3/24 - Form 424B2
- JPM's page on the SEC website