Jamie Dimon Warns of Economic Hurricane Amid Inflation and

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. cnbc.com/2022/06/01/jamie..