Jamie Dimon: U.S. Recession Still on the Table
JP Morgan CEO Jamie Dimon has cautioned that the risk of a U.S. recession has not disappeared, warning that economic uncertainty persists amid ongoing global trade tensions.
Speaking to Bloomberg TV, Dimon said the fallout from tariffs continues to pressure economies worldwide, and a recession in the U.S. remains a possibility.
“I’d defer to the economists — they put the odds at about 50%,” he noted. “If there’s a recession, I don’t know how big it’ll be or how long it will last. Hopefully we’ll avoid it, but I wouldn’t take it off the table at this point.”
Earlier this week, Goldman Sachs lowered its likelihood of a U.S. recession within the next 12 months from 45% to 35%.
Meanwhile, JP Morgan CEO Jamie Dimon noted that some clients are delaying investment decisions amid ongoing market volatility triggered by Donald Trump’s trade war, which began just over a month ago.
The U.S. is now teetering on the edge of a technical recession—defined as two consecutive quarters of economic contraction—after the economy shrank by nearly 0.1% in the first quarter of the year.
This marks the weakest performance among G7 nations so far, with only Japan and Canada yet to report Q1 figures. By contrast, the UK posted stronger-than-expected growth of 0.7% for the same period.
The U.S. downturn was largely driven by a sharp drop in net trade, as companies front-loaded imports ahead of Trump’s “Liberation Day” tariff announcement in early April.
