Jamie Dimon, one of the world's most influential business leaders, warned in his annual shareholder letter that the war in Ukraine poses a significant threat to the economic recovery that began less than two years ago.
Dimon, one of the world's most influential business leaders, warned Monday in his annual shareholder letter that the conflict poses a significant threat to the economic recovery that began less than two years ago."The war in Ukraine and the sanctions on Russia, at a minimum, will slow the global economy — and it could easily get worse," the JPMorgan Chase CEO wrote in the letter.The conflict has already set off severe turbulence in energy, agricultural and other commodity markets.
'Very volatile markets' are comingDimon struck a cautious tone on whether the Fed can achieve a so-called soft landing: taming inflation without tanking the recovery. He said if the Fed gets it"just right," the economy can enjoy years of growth and inflation will"eventually start to recede."Either way, Dimon said, investors should buckle up."In any event, this process will cause lots of consternation and very volatile markets," he wrote.
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