Dimon Warns Geopolitical Issues Are Bigger Worry Than Recession
JPMorgan Chase CEO Jamie Dimon said geopolitical uncertainties are among the biggest concerns facing the global economy right now.
(Bloomberg) -- JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said geopolitical uncertainties were among the biggest concerns facing the global economy right now, far outweighing the risk of recession.
“The most important thing is the geopolitics around Russia and Ukraine, America and China, relationships of the western world,” Dimon said at Saudi Arabia’s Future Investment Initiative conference in Riyadh on Tuesday. “That to me would be far more concerning than whether there’s a mild or slightly severe recession.”
A recession is not the most important thing we think about, he said. “We’ll manage right through that.”
For Dimon, this year’s event will be his first after he and other senior western executives bailed on the conference in 2018 following the disappearance of Jamal Khashoggi, a dissident Saudi journalist. Dimon later said pulling out “achieved nothing.”
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