‘Soft Landing’ Is Unlikely for US Economy, JPMorgan’s Dimon Says
- Interest rates will likely rise more than estimates, CEO says
- JPMorgan chief has ‘total faith and trust’ in Fed Chair Powell
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Jamie Dimon said the Federal Reserve probably can’t cool the red-hot economy without bringing on a recession.
“I don’t know if it could be a soft landing -- I don’t think so, but it might,” the JPMorgan Chase & Co. chief executive officer said at an industry conference in Washington Thursday, adding that the alternatives would be a mild or a severe recession. “In a tough recession, you could expect the market to go down another 20% to 30%.”