JPMorgan CEO Dimon Warns "U.S. Economic Indicators Could Deteriorate Soon"

Tariffs and Deportation Measures for Immigrants
Negative Effects on Prices and Economic Growth
Tariffs Not Enough to Sink the Country

Jamie Dimon, CEO of JPMorgan Chase, the largest bank in the United States, has warned that U.S. economic indicators could deteriorate soon.

According to CNN on June 11 (local time), CEO Dimon said at the Morgan Stanley U.S. Financials Conference held in New York, "You will see the actual numbers, and I think those numbers could worsen soon."

He assessed that although tariffs imposed by the Donald Trump administration have not yet had a substantial impact on data such as monthly inflation and employment reports, the economy could decline if the situation changes.

On the same day, the U.S. Department of Labor announced that the Consumer Price Index (CPI) for May had slowed more than the market expected. Regarding this, CEO Dimon expressed concern, saying, "It may appear that inflation has temporarily eased, but President Trump's tariff policy and deportation measures for immigrants could have a negative impact on prices and growth in the medium to long term."

CEO Dimon predicted that the impact of tariffs on price increases would become more pronounced over time. He said, "What really matters are 'hard data' such as employment growth rates and inflation, and we may be able to see if there has been an impact in July, August, September, and October." He added, "Employment may decrease slightly, and inflation may rise a little. However, I hope the impact will not be severe."

CEO Dimon stated, "Tariffs can cause confusion in the economy, but they are not enough to sink the entire country," and added, "I will not be overly concerned about short-term volatility. However, macro trends such as military alliances or global economic cooperation, which could have a significant impact on America's future, are exceptions."

Known as the 'Emperor of Wall Street,' CEO Dimon raised the possibility of stagflation (rising prices amid economic stagnation) in an interview with Bloomberg TV on May 22, and on May 30 at the 'Reagan Economic Forum,' he warned that cracks in the bond market could soon emerge.