Dimon opens the letter by introducing the confluence of three major forces that the U.S. is facing:
- A strong U.S. economy with COVID-19 mostly in the rearview mirror
- High inflation, resulting in interest hikes and reversal of quantitative easing
- War in Ukraine and its impact on the global economy and geopolitics of the future

J.P. Morgan CEO’s 45-Page Annual Letter is Out. Here Are The Key Takeaways.

Dimon opens the letter by introducing the confluence of three major forces that the U.S. is facing: - A strong U.S. economy with COVID-19 mostly in the rearview mirror - High inflation, resulting in interest hikes and reversal of quantitative easing - War in Ukraine and its impact on the global economy and geopolitics of the future J.P. Morgan CEO’s 45-Page Annual Letter is Out. Here Are The Key Takeaways. Like Warren Buffett’s annual letter to Berkshire shareholders, Jamie Dimon’s annual letter to J.P. Morgan shareholders is closely watched… https://medium.com/kiwoon-learning/j-p-morgan-ceos-45-page-annual-letter-is-out-here-are-the-key-takeaways-b4b8266e8911

Hurricane on the horizon 😖 what do you think about his coal prediction?  FUD….. https://youtu.be/MjmfUHeafDk

During an appearance at a financial conference in New York, JPMorgan Chase CEO Jamie Dimon warned that an economic hurricane is on the horizon. He said the bank is bracing itself and being very conservative with its balance sheet. He urged analysts and investors at the conference to do the same.

🫣 Dimon pointed to the Fed’s quantitative tightening (QT) plan, which begins this month, as one of the sources of his concern.
    - Starting June 1, the Fed will roll off $47.5B per month from its $9T balance sheet for the next three months – $30B in Treasuries and $17.5B in MBS. 
    - Starting in September, the amount would go up to $95B a month, $60B in Treasuries, and $35B in MBS.

🫣 Dimon said the U.S. has never seen QT like this and added history books could be written about this for the next 50 years.

🫣 Dimon also pointed to the ongoing war in Ukraine as a source of concern due to its impact on oil and food prices.
    - Dimon said oil prices could potentially hit $150 or $175 a barrel.

https://www.cnbc.com/2022/06/01/jamie-dimon-says-brace-yourself-for-an-economic-hurricane-caused-by-the-fed-and-ukraine-war.html

During an appearance at a financial conference in New York, JPMorgan Chase CEO Jamie Dimon warned that an economic hurricane is on the horizon. He said the bank is bracing itself and being very conservative with its balance sheet. He urged analysts and investors at the conference to do the same.  🫣 Dimon pointed to the Fed’s quantitative tightening (QT) plan, which begins this month, as one of the sources of his concern.     - Starting June 1, the Fed will roll off $47.5B per month from its $9T balance sheet for the next three months – $30B in Treasuries and $17.5B in MBS.      - Starting in September, the amount would go up to $95B a month, $60B in Treasuries, and $35B in MBS.  🫣 Dimon said the U.S. has never seen QT like this and added history books could be written about this for the next 50 years.  🫣 Dimon also pointed to the ongoing war in Ukraine as a source of concern due to its impact on oil and food prices.     - Dimon said oil prices could potentially hit $150 or $175 a barrel.  https://www.cnbc.com/2022/06/01/jamie-dimon-says-brace-yourself-for-an-economic-hurricane-caused-by-the-fed-and-ukraine-war.html

"You know, I said there's storm clouds but I'm going to change it … it's a hurricane," Dimon said Wednesday at a financial conference in New York.

Jamie Dimon says 'brace yourself' for an economic hurricane caused by the Fed and Ukraine war

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JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon says the Federal Reserve has no choice but  to raise interest rates and conduct quantitative tightening. He also talks about the rising price of oil and gas. He spoke at conference sponsored by AllianceBernstein Holdings on June 1.

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Jamie Dimon: Fed Has No Choice But to Do QT

Nate

“For any products or materials that are essential for national security (think rare earths, 5G and semiconductors), the U.S. supply chain must either be domestic or open only to completely friendly allies. We cannot and should never be reliant on processes that can and will be used against us, especially when we are most vulnerable.”

These anti-globalization macros are starting to happen already.  I think near-shoring will be common w/ Mexico being a big winner

“For any products or materials that are essential for national security (think rare earths, 5G and semiconductors), the U.S. supply chain must either be domestic or open only to completely friendly allies. We cannot and should never be reliant on processes that can and will be used against us, especially when we are most vulnerable.”  These anti-globalization macros are starting to happen already.  I think near-shoring will be common w/ Mexico being a big winner

Jerome Cody

“in hindsight, the medicine (fiscal spending and QE) was probably too much and lasted too long.”

True - also poorly distributed and not reaching the right people

“in hindsight, the medicine (fiscal spending and QE) was probably too much and lasted too long.”  True - also poorly distributed and not reaching the right people

D J

A group of likeminded people in The Most Important Thing are talking about this.