Jamie Dimon Criticizes Central Banks for Getting Forecasts Wrong

JPMorgan’s boss voices caution at FII conference in Riyadh
Bridgewater’s Dalio adds he’s ‘pessimistic’ on 2024 outlook

WATCH: “I don’t think it makes a piece of difference whether rates go up 25 basis points or more, like zero, none, nada,” Dimon says.Source: Bloomberg

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By Liza Tetley

October 24, 2023 at 9:00 AM UTC

Corrected

October 25, 2023 at 3:52 PM UTC

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JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said the fact that central banks got financial forecasting “100% dead wrong” about 18 months ago should prompt some humility about the outlook for next year.

Speaking on a panel at the Future Investment Initiative summit in Riyadh, Saudi Arabia, Dimon voiced doubts that central banks and governments around the world could manage the economic fallout from rising inflation and slowing global growth.