"Possibility of US Economic Recession Remains" Warns Major US Bank CEO

Korea Economic Daily

Summary

Jamie Dimon, CEO of JPMorgan Chase, stated that the possibility of the US entering a recession cannot be ruled out.
He assessed the US-China tariff truce as positive for the economy but stated that still high tariff rates could cause economic damage.
CEO Dimon reported that at the current tariff levels, investors tend to hold back on investments.

*Jamie Dimon, Chairman and CEO of JPMorgan Chase*

Jamie Dimon, CEO of JPMorgan Chase, the largest bank in the United States, stated that there is a possibility of the US entering a recession.

On the 15th (local time), CEO Dimon said in a Bloomberg TV interview regarding the possibility of a recession, "Hopefully, we can avoid it, but at this point, we cannot rule out the possibility," and "If a recession comes, we don't know how big it will be or how long it will last."

Dimon CEO's interview remarks, made after the US-China 'tariff truce', slightly retreated from his previous stance. CEO Dimon had warned that the US was likely to enter a recession following the escalation of the US-China tariff war.

While he assessed the tariff truce between the US and China as positive for the economy and the market, he also believed that the tariff rates on imports into the US remain significantly higher than last year, which could cause economic damage.

He said, "Even at the current tariff levels, you can see people holding back on investments and carefully considering what to do."

Reporter Lee Song-ryeol, Hankyung.com yisr0203@hankyung.com