JPMorgan's Dimon Warns of Potential U.S. Economic 'Hard Landing'

JPMorgan Chase CEO Jamie Dimon stated that a "hard landing" for the U.S. economy cannot be ruled out, citing historical precedents. He warned that stagflation, characterized by persistent inflation, slow growth, and high unemployment, would be the worst outcome. Despite current economic challenges, Dimon noted that U.S. consumers are still in good shape. His comments follow concerns over stubborn inflation and geopolitical tensions, with Federal Reserve officials indicating that inflation may only slowly return to their 2% target.