June 3, 2022 NY Post and ZeroHedge
Jamie Dimon, Wiki
[email=?subject=JPMorgan Chase CEO Jamie Dimon Predicts “Hurricane” Will Strike] [/email]
JPMorgan Chase boss Jamie Dimon urged investors to prepare themselves for turbulence in the market in the weeks ahead – and warned them to brace themselves for a “hurricane” in the economy. Dimon blamed Russian invasion of the Ukraine and the Federal Reserve’s move to tighten monetary policy instead of the corrupt policies of the Federal Reserve and banks. The Federal Reserve is set to begin shedding its nearly $9 trillion in bond holdings this month in a process known as “quantitative tightening.” The Fed is cutting off the pandemic-era flow of cheap money and tightening credit; investors fear it will result in a recession. The bad policies and disruption have been planned, they are not mistakes.
JPMorgan Chase boss Jamie Dimon urged investors Wednesday to prepare themselves for turbulence in the market in the weeks ahead – warning that extraordinary financial circumstances were creating a potential “hurricane” for the economy.
Dimon, the head of the largest US bank, said factors such as the Russian invasion of the Ukraine and the Federal Reserve’s move to tighten monetary policy due to decades-high inflation could stoke chaotic conditions in the market.
“It’s a hurricane. Right now, it’s kind of sunny, things are doing fine, everyone thinks the Fed can handle this,” Dimon said during a conference sponsored by AllianceBernstein, according to Bloomberg.
“That hurricane is right out there, down the road, coming our way,” he added. “We just don’t know if it’s a minor one or Superstorm Sandy or Andrew or something like that. You better brace yourself.”
The Federal Reserve is set to begin shedding its nearly $9 trillion in bond holdings this month in a process known as “quantitative tightening.” Central bank officials are also expected to enact another half-percentage point interest rate at their meeting later this month.
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