off-the-wire

JPMorgan CEO Dimon expects recession and defaults, urges quick progress on trade talks

Kitco Media
By Reuters
Published:
Updated:
Reuters
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NEW YORK, April 9 (Reuters) - JPMorgan Chase CEO (JPM.N), Jamie Dimon said on Wednesday that sweeping tariffs imposed by U.S. President Donald Trump will probably lead to a recession and defaults by borrowers, he told Fox Business’ Mornings with Maria.

"So long as you have rates going up... inflation is sticky and credit spreads are gapping out, which they're going to, I think you'll see more credit problems," Dimon said.

Dimon urged fast progress on trade negotiations with U.S. trading partners in order to calm markets, which have been roiled by tariff announcements.

Reporting by Nupur Anand in New York and Suzanne McGee in Providence, editing by Lananh Nguyen

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