JPMORGAN CHASE (Jpm) CEO Jamie Dimon warns “an extraordinary amount of restraint amounted to” after receiving the losses of “Freedom Day” losses, and even inflation and even the risk of stopping.
“The market fell by 10%, 10% returned,” he said. “I think this is a very extraordinary communicative.”
The boss of the largest bank of the nation, President Trump’s tariffs and the US economy discussed everything in the future of the banking industry and Crypto’s annual investor’s day event measure.
Dimon did not respond to a solid: plans to retire as CEO.
When asked why he would not have another decade, he recalled that he plans to reduce the role of the executive authority of the Executive Director of JPMorgan.
“It is clear that this is up to the board. I have been four years and maybe two years and three are three times more.
JPMorgan Chase CEO Jamie Dimon, on April 9 on the Fox Business Network with Maria Bartiromo “Mornings with Maria”. (Noam Galai / Getty Images) ·Noam galai vitty pictures
First, for the first time, the 69-year-old period, as a period of JPMorgan’s boss, in the event of last year’s investor’s day, he probably acknowledged the role of “less than five years.” This is the fact that January is the “main work” for several years.
When an analyst suppressed him for a more specific schedule, he said, “The last year is the same as we say.”
When discussing macroeconomic issues, the comments pointed out more. Dimon claimed that the fully influence of the tariffs is still not clear and even in the existing levels and the “very extreme”.
President Trump, including trade deals in China, including China, including Chinese countries, but in addition to Chinese countries, but in addition to certain industries, 10% remain in the basic reciprocal tariff.
Trade has created a lot of risk, he said, said that the chances of inflation and the chances of stopped people are higher than people think. The possibility of stagflation – applies to the recession with higher inflation – “Probably twice,” added that the market expect.
The geopolitical risk is also concerned. This is “very high, very high. We do not know how to play for the next few years,” Dimon said.
It was not the only large bank boss that warned about the impact of the tariffs.
“Companies violate the decisions, postpone CAPEX and continue to employ the employer. Many are preparing for second and third order effects from the demand uncertainty,” he said.
He noted that “We” is a little smaller than its profit, a little specified in the new stage of globalization – in cooperation. Long-term probabilities are protested only by tariff ads. The near-term impact is already felt and the long-term trajectory is rewritten in real time. “
File Photo: Jane Fraser, CEO, Citi, California, California, USA, 2023 Milken Milken Institute Global Conference on May 1, 2023. Reuters / Mike Blake / File Pictures ·Reuters / Reuters
JPMorgan offered a sign that it can create for some customers in the current quarter.
Investors reported that in the second quarter, this is the weakest investment bank of the Poor Investment Bank, compared to the General Director General of Troy Rohrbugh Co-Chair, the Fees of a weak investment bank fee. Investment bankers rely on companies that make deals for income.
Trade revenues are “estimated to be in high single figures,” Rohrbaugh was added.
The bank has kept the full annual forecast for important loan income and net interest revenues. The $ 90 billion project is a potential potential $ 4.5 billion from trade, depending on market conditions.
“Outlook is probably a little better than earnings in the first quarter.” CFO Jeremy Barnum, he said at the beginning of the day.
Dimon also said, “Many of these calculations, as I have noted, as I have noted, as I mentioned,” the Dimon is widely founded by Washington on Monday.
After Dimon, which has been playing a role since 2006, JPMorgan has been opening, serves as one of the great guesses of Wall Street for years. In addition, JPMorgan’s “single largest idiosynchratic risk factor” for shares, American Analysis wrote last week.
Investors also had the most of a few others inside the bank several times, and had a chance to evaluate a few others as the most.
“Our northern star creates alpha,” said Mary Erdoes, the management of active and wealth. “That’s what is all day long. Every major point of all the main points.”
The bank also increased its technological expenses to $ 1 billion from the end of last year to $ 1 billion.
“We are the growth franchise and share a wide range between businesses. We’re not a big giant, but we are proud of this performance.”
The banking section of the lake, except for the credit department at home, expects to reduce the 10% in the next four and a half years in the lightning development of the AI and other technology.
David Hollerith is a great reporter for Yahoo Finance covering the bank, crypto and other areas in the field of finance.
