JPMorgan Chase CEO Jamie Dimon warns recession still possible: I wouldnt take it off the table

JPMorgan Chase CEO Jamie Dimon is warning that a recession remains a real possibility as financial markets continue to absorb the ripple effects of the Trump administration’s sweeping tariff policies.“Hopefully we’ll avoid it, but I wouldn’t take it off the table at this point,” Dimon told Bloomberg Television on Thursday during JPMorgan’s Global Markets Conference in Paris.“If there is a recession, I don’t know how big it would be or how long it would last.”Dimon’s comments come amid ongoing uncertainty sparked by President Trump’s “Liberation Day” announcement of tariffs on dozens of countries, followed days later by a 90-day pause to pursue trade agreements.The back-and-forth has jolted markets, and Dimon said some JPMorgan clients are already putting investment plans on hold due to the volatility.“The right thing to do is to back off of some of that stuff,” Dimon said of the trade war, adding that he hopes the recent cooling of tensions between the US and China leads to productive negotiations.“To have an engaging conversation.”Dimon has been vocal about the need for a stable trade framework and has urged the Trump administration to empower Treasury Secretary Scott Bessent to lead talks with foreign governments.In his recent shareholder letter, he pressed for a swift resolution, warning that prolonged uncertainty would dampen economic growth.Despite the turmoil, Dimon noted that JPMorgan has benefited from recent market swings.“You’ve seen examples where there’s good volatility and there’s bad volatility,” he said.“This one happened to be good.

The next go around it may not be so good.”JPMorgan Chase, the nation’s largest lender with nearly $4 trillion in assets under management, generated record revenue in the first quarter, and analysts anticipate another strong showing in the second quarter — even before the full impact of the April tariffs takes hold.But Dimon also cautioned that global sentiment toward th...