CEO Chase Jamie Dimon says markets are too outdated

Jpmorgan chase CEO Jamie Dimon said on Monday that markets and Central Bankers underestimate the risks created by us deficit. tariffs and international tensions.

Dimon, CEO of the veteran and the chairman of the US largest asset bank, explained his worldview during the annual meeting on New York. He said he believed that the risks of higher inflation and even stagflation are not properly presented with stock market values ​​that received return from return lows in April.

“We have a huge deficit; we have what I think is almost compassionate central banks,” said Dimon. “You all think they can manage all this. I don’t think they can,” he said.

“My own opinion – people feel very good because you have not seen effective tariffs,” said Dimon. “The market decreased by 10%, (this) backup by 10%. This is an extraordinary amount of self -resort.”

Dimon’s comments follow the Moody rating agency reduction American credit rating on Friday over the concern of the government’s increasing loan. During the last few months markets have been entered for months concerning this president Donald TrumpTrade policy will increase inflation and slow the world’s largest economy.

Dimon stated on Monday that he believes that earnings are at Wall Rate S&P 500 Companies that have already refused in the first weeks of Trump’s trade policy will fall further when companies pull or reduce leadership against uncertainty.

In six months, these forecasts will fall to 0% of the profit growth after the beginning of the year at about 12%, said Dimon. If this happens, the stock prices are likely to reduce.

“I think the profit estimates will decline, which means that it will go away,” said the dimon, citing the cost ratio that is carefully monitored by the stock market analysts.

The chances on stagfolo“What is mostly inflation recession” is about twice as much as the market thinks, Dimon added.

Separately, one of the main deputies of the Dimon said that corporate customers are still in “expectation and vision” mode when it comes to acquisitions and other transactions.

Investment bank revenues are aimed at reducing the percentage in the second quarter compared to a period of more than a year, while the profit from the trade was higher by the “average to high” percentage, said Troy Rorbo, co -chairman of the commercial and investment bank of the company.

On a permanent question about the timing of the Dimon, the CEO Guide last yearWhen he said he would probably remain less than five years old.

“If I was here for four years, and maybe two more” as the executive chairman, the smoke said, “it’s a long time.”

Of all the executive presentations held on Monday, the head of the consumer bank Marian Lek had the longest conversation in the full hour. It is considered the main candidate for the successor, especially after the main operational director Jennifer Pipshki She said she would not look for the main work.