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JPMorgan Chase CEO Jamie Dimon said on Tuesday that he is not worried about inflation, but warned that stagflation remains among the worst-case scenarios for the economy.
Speaking during a conference organized by the Norwegian sovereign wealth fund, Dimon said: “The worst case is stagflation, and I just wouldn’t take it off the list.”
He added that there are multiple sources of inflationary pressure, including “the Iran War, the re-militarization of the world, the infrastructure needs of the world, and our deficits.”
Dimon previously warned in his shareholder letter on April 6 that the war in Iran risks oil and commodity price shocks. He said such shocks could keep inflation “sticky” and push interest rates higher than what markets currently expect.
Dimon said he is not worried about the US economy overall. However, he cited cyber risk and geopolitics—specifically the wars in Iran and Ukraine—as two of the biggest risks.
“The bad guys can use cyber and they’re going to get stronger, more powerful in terms of finding vulnerabilities,” he said.
Dimon also addressed past speculation about a potential presidential run, saying he has no interest in pursuing it.
“If you were to anoint me, I’d be happy to do it. But there’s no way I’d get through primaries, and plus I love what I do.”
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
