JPMorgan Chase & Co. CEO Jamie Dimon on Monday singled out the Ukraine battle as the best geopolitical menace since World War II.
Asked what he’s most anxious about, Dimon mentioned, “Ukraine.”
The battle is affecting oil markets, meals costs and now the U.S. relationship with China, Dimon mentioned in an unique interview with Bloomberg TV.
“This is much more serious than the economic vibrations we have to deal with on a day-to-day basis,” he mentioned.
Dimon mentioned he learn not too long ago that wars that proceed previous the one-year mark are prone to final a decade.
“This is a major land war in Europe in a free and democratic nation” that has seen a whole lot of hundreds of casualties, Dimon mentioned. “We don’t know how this is going to end … or what direction it’s going to take.”
Dimon mentioned he doubts JPMorgan Chase
JPM,
will transfer into Russia any time quickly. It’s doable a while within the distant future, he mentioned, however possibly not for many years.
The financial institution does have dealings with China, which is reportedly aiding Russia within the battle, however he mentioned that it’s taking a again seat to official U.S. authorities channels.
Dimon made the feedback on the JPMorgan High Yield and Leveraged Finance Conference in Miami.
In January, Dimon gave some candid feedback about one other matter, telling CNBC-TV that bitcoin
BTCUSD,
quantities to a “hyped-up fraud” and a “pet rock.”
“Blockchain is a technology-ledger system that we use to move information … we use it to move money. So that is a ledger that we think will be deployable,” Dimon mentioned within the CNBC interview.
He added that it’s no shock that cryptocurrency alternate FTX collapsed out of business in November.
JPMorgan’s inventory is up 7.2% to date in 2023, in contrast with a 6% rise by the S&P 500
SPX,
and a 1% enhance by the Dow Jones Industrial Average
DJIA,
Also learn: Risk of ‘wrathful Old Testament–style’ response from central banks is rising, JPMorgan says
Source web site: www.marketwatch.com
