“Economic hurricane” about to make landfall across America
Jun 2, 2022 19:43:09 GMT -5
Post by OmegaMan on Jun 2, 2022 19:43:09 GMT -5
GET READY: JPMorgan CEO Jamie Dimon says “economic hurricane” is about to make landfall across America
Thursday, June 02, 2022 by: Ethan Huff
Tags: banks, chaos, Collapse, economic hurricane, Federal Reserve, finance, Jamie Dimon, JP Morgan, perfect storm, risk, stock market, Ukraine
This article may contain statements that reflect the opinion of the author
(Natural News) The head of one of America’s largest and most influential financial institutions is warning that things are about to get really ugly, economically speaking.
Jamie Dimon, the CEO of JPMorgan, just told a room full of analysts and investors that an “economic hurricane” is barreling straight towards the United States, and that his company is “bracing” for impact.
So-called “quantitative easing,” or QT, which is scheduled to begin this month, will ramp up to $95 billion a month in reduced bond holdings. There is also the ongoing war in Ukraine, which continues to drive up commodity prices.
Oil, Dimon warns, could hit $150 or even $175 a barrel. And food, as many of us well know, is becoming increasingly more expensive with each passing day.
“You’d better brace yourself,” Dimon warned his audience. “JPMorgan is bracing ourselves and we’re going to be very conservative with our balance sheet.”
“You know, I said there’s storm clouds but I’m going to change it … it’s a hurricane,” he added, noting that while conditions might seem “fine” to some, there is no knowing for sure whether the coming hurricane is “a minor one or Superstorm Sandy.”
Central banks can no longer contain the runaway train
The end of the Federal Reserve’s cheap money era, as CNBC calls it, is rapidly coming to an end. This, among other factors, is said to be driving down stock prices in the tech sector.
Inflation is also hitting multi-decade highs, and this is on top of supply chain failures that really picked up during the Wuhan coronavirus (Covid-19) plandemic.
Continued at link
Thursday, June 02, 2022 by: Ethan Huff
Tags: banks, chaos, Collapse, economic hurricane, Federal Reserve, finance, Jamie Dimon, JP Morgan, perfect storm, risk, stock market, Ukraine
This article may contain statements that reflect the opinion of the author
(Natural News) The head of one of America’s largest and most influential financial institutions is warning that things are about to get really ugly, economically speaking.
Jamie Dimon, the CEO of JPMorgan, just told a room full of analysts and investors that an “economic hurricane” is barreling straight towards the United States, and that his company is “bracing” for impact.
So-called “quantitative easing,” or QT, which is scheduled to begin this month, will ramp up to $95 billion a month in reduced bond holdings. There is also the ongoing war in Ukraine, which continues to drive up commodity prices.
Oil, Dimon warns, could hit $150 or even $175 a barrel. And food, as many of us well know, is becoming increasingly more expensive with each passing day.
“You’d better brace yourself,” Dimon warned his audience. “JPMorgan is bracing ourselves and we’re going to be very conservative with our balance sheet.”
“You know, I said there’s storm clouds but I’m going to change it … it’s a hurricane,” he added, noting that while conditions might seem “fine” to some, there is no knowing for sure whether the coming hurricane is “a minor one or Superstorm Sandy.”
Central banks can no longer contain the runaway train
The end of the Federal Reserve’s cheap money era, as CNBC calls it, is rapidly coming to an end. This, among other factors, is said to be driving down stock prices in the tech sector.
Inflation is also hitting multi-decade highs, and this is on top of supply chain failures that really picked up during the Wuhan coronavirus (Covid-19) plandemic.
Continued at link