Jamie Dimon Photo source Company’s Website
Jamie Dimon, CEO of JPMorgan Chase, issued a harsh criticism of the world’s central banks saying that they were “100% dead wrong” with their financial forecasts. The comments came as part of a panel discussion at the Future Investment Initiative summit in Riyadh, Saudi Arabia.
“Prepare for possibilities and probabilities, not calling one course of action, since I’ve never seen anyone call it,” Jami Dimon said. “I want to point out the central banks 18 months ago were 100% dead wrong,” he added. “I would be quite cautious about what might happen next year.”
Jamie Dimon was also critical of national fiscal policies these days.
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“Fiscal spending is more than it’s ever been in peacetime and there’s this omnipotent feeling that central banks and governments can manage through all this stuff,” he said. “I am cautious about what will happen next year.”
On the possibility of more interest hikes by central banks, Jamie Dimon said, “I don’t think it makes a piece of difference whether rates go up 25 basis points or more. Whether the whole curve goes up 100 basis points, be prepared for it. I don’t know if it’s going to happen.”
And this comment came just a few weeks after the JPMorgan head warned that interest rates not go up to as much as 7%.
The Future Investment Initiative (FII) Institute presents “The New Compass” — an interactive program designed to help investors recalibrate the pathways for their companies and for the global economy, while developing new strategies for understanding the greatest challenges and opportunities of this new era. Now in its 7th Edition the FII invites the world’s leading investors, business leaders, policymakers, inventors, and explorers to come together to discover the new markets and navigate new frontiers of economic growth and prosperity.
Jamie Dimon is the chairman and chief executive officer of JPMorgan Chase & Co., one of the world’s largest banks. He has been in this role since 2005 and is widely considered to be one of the most powerful and influential people in the financial world.
Dimon was born in New York City in 1956 and began his career at American Express. He later held senior positions at Commercial Credit and Travelers Group before becoming chairman and CEO of Bank One in 2000. In 2004, Bank One merged with JPMorgan Chase, and Dimon became president and chief operating officer of the combined company. He was named CEO in 2005 and chairman in 2006.
Under Jamie Dimon’s leadership, JPMorgan Chase has become one of the most successful and profitable banks in the world. It has also been a leader in financial innovation, particularly in the areas of investment banking and asset management. Dimon is also known for his outspokenness on a variety of issues, including banking regulation, economic policy, and social justice.
Jamie Dimon is a controversial figure, but there is no doubt that he is one of the most important and influential people in the financial world. He is a shrewd businessman, a skilled negotiator, and a powerful advocate for his bank and his industry.
