JPMorgan Chase & Co CEO Jamie Dimon on Monday described the Ukraine war as the biggest geopolitical threat since World War II.
Asked what he’s most worried about, Dimon replied:
In an exclusive interview with Bloomberg TV, Dimon said the war is affecting oil markets, food prices and now America’s relationship with China.
“It is far more serious than the economic tremors that we have to deal with on a day-to-day basis,” he said.
Dimon said he recently read that wars that go past the one-year mark are likely to last a decade.
Dimon said, “This is a major land battle in Europe in a free and democratic nation” with hundreds of thousands of casualties. “We don’t know how it’s going to end … or what direction it’s going to go.”
Dimon said he has doubts about JPMorgan Chase JPM,
Will be stepping into Russia any time soon. It’s possible sometime in the distant future, he said, but probably not for decades.
The bank has had dealings with China, which is believed to be backing Russia in its war on Ukraine, but said it was taking a back seat to official US government channels.
Dimon made the comments at the JPMorgan High Yield and Leveraged Finance Conference in Miami.
In January, Dimon made some candid comments about another topic, telling CNBC-TV that bitcoin BTCUSD,
A “hyped-up fraud” and “pet rock” on par.
“Blockchain is a technology—the ledger system that we use to transfer information… We use it to move money. So it is a ledger that we think will be deployed,” Dimon said in a CNBC interview.
He added that it is no surprise that cryptocurrency exchange FTX filed for bankruptcy in November.
JPMorgan stock is up 7.2% so far in 2023, while the S&P 500 SPX is up 6%,
and a 1% increase by the Dow Jones Industrial Average DJIA,
Too JP Morgan says there is a growing risk of a ‘grumpy Old Testament-style’ response from central banks
Credit: www.marketwatch.com /