JPMorgan Chase CEO Jamie Dimon warned that the United States is likely going to head into recession territory in the next six to nine months, adding that the S&P 500 could fall by “another easy 20 percent” in the near future.
“I mean, Europe is already in recession … and they’re likely to put the U.S. in some kind of recession six to nine months from now,” Dimon told CNBC Monday.
Citing decades-high inflation and recent increases in interest rates, Dimon also noted unknown effects from the conflict in Ukraine and more Federal Reserve monetary tightening.
The Fed raised interest rates by three-quarters of a percentage point in September, the third consecutive rate increase of that amount. Officials with the central bank indicated that more rate hikes are on the way….