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Dimon Sounds a Cautious Note as JPMorgan Prepares for Recession

  • CEO says he’s not predicting a downturn but is monitoring risk
  • Slowdown in lending seen as bank holds annual investor day
Pedestrians pass in front of the JPMorgan Chase & Co. headquarters in New York, U.S.
Pedestrians pass in front of the JPMorgan Chase & Co. headquarters in New York, U.S.Photographer: Scott Eells
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Jamie Dimon doesn’t agree with economic doomsayers. That doesn’t mean he hasn’t heard them.

The chief of the largest U.S. bank acknowledged a growing number of potential obstacles to the economy that carried his firm to record profits last year. That caution was reflected in JPMorgan Chase & Co.’s annual presentation to investors Tuesday, as the bank held its profitability goal steady and told shareholders to expect a slowdown in lending growth.