Dimon says bull market is like a ‘little tsunami’ that even he finds surprising, but he says ‘it will stop.’ Here’s why JPMorgan Chase CEO Jamie Dimon isn’t taking comfort in the stock market’s seemingly endless euphoria that defied a war in the Middle East and the ensuing spike…
inflation. Instead, he believes there’s trouble brewing for the U.S. economy
During a June 15 appearance at the Council on Foreign Relations (1), Dimon was blunt in forecasting an eventual stock market contraction. For him, the only question left to answer is when. Must Read “We’re in a bull market.
It’s like a little tsunami,” he said. “When that kind of thing happens, it’s very hard to stop. But it will stop.” What caught Dimon off-guard about the economy Dimon argued that a set of economic developments has insulated the U.S. economy from amplified turmoil so far this year. He listed a low 4% unemployment rate, a capital spending boom among hyperscalers to build out data centers to fuel the AI boom, and a fresh wave of deregulation from the Trump administration that contributed to growing balance sheets among giant Wall Street banks.