- cross-posted to:
- boycottus@lemmy.ca
- cross-posted to:
- boycottus@lemmy.ca
There is a higher risk of a serious fall in US stocks than is currently being reflected in the market, the head of JP Morgan has told the BBC.
Jamie Dimon, who leads America’s largest bank, said he was “far more worried than others” about a serious market correction, which he said could come in the next six months to two years.
In a rare and wide-ranging interview, the bank boss also said that the US had become a “less reliable” partner on the world stage.
He cautioned he was still “a little worried” about inflation in the US, but insisted he thought the Federal Reserve would remain independent, despite repeated attacks by the Trump administration on its chair Jerome Powell.
Dimon is far from a novice, he’s toeing the line with the fact his org and a few other rich people call shots, and that they benefit from the current structure the US has on the world stage. Loss of fed independence, which any (fucking idiot as you say) can see is happening, will hurt either JPM or those they are beholden to so he does the PR bit for now while they reshuffle in the background aligning with new power and future advantages. Once they and theirs have adjusted, then the market will be allowed to crash.