Jamie Dimon says he still sees a recession on the horizon

JPMorgan Chase CEO Jamie Dimon believes that the odds of a ‘soft landing’ for the economy are around 35% to 40%, making a recession the most likely scenario. Dimon’s view remains the same as earlier this year when he stated that markets were too optimistic about recession risks. He expressed skepticism about the Federal Reserve’s ability to bring inflation down to its 2% target due to future spending on the green economy and military. Despite rising credit-card borrower defaults, Dimon noted that the US is not currently in a recession. He expressed sympathy for those who lose their jobs and emphasized the importance of avoiding a hard landing.