Top Wall Street Bankers Warn of US, Europe Recession: FII Update

JPMorgan Chase & Co. CEO Jamie Dimon said his biggest worry is around geopolitics and Russia’s invasion of Ukraine. “February 24th was a massive pivot change in the world,” Dimon said at Saudi Arabia’s Future Investment Initiative conference in Riyadh. “It kind of woke us up this illusion that the Western world had, that somehow peace is at hand and you don’t really worry about it. That was a mistake.”Source: Bloomberg

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By Bloomberg News

October 25, 2022 at 7:00 AM UTC

Updated on

October 25, 2022 at 12:16 PM UTC

This article is for subscribers only.

Top Wall Street bankers warned a recession in the US and Europe is increasingly likely.

Goldman Sachs Group Inc. CEO David Solomon said economic conditions are going to “tighten meaningfully from here” as the Federal Reserve has made it clear it is going to raise to the path target for interest rates.