JP Morgan CEO Says Banking Crisis Increases Odds of Recession
Speaking to CNN, JP Morgan CEO Jamie Dimon says that the banking crisis has increased the odds of a recession. Specifically, Dimon is referencing the recent closure of Silicon Valley Bank, and subsequently Signature Bank, both representing the largest banking failures since the financial crisis of 2008. Dimon spoke to CNN in his first interview since the collapse set off the concern and worry currently in the banking sector. Moreover, the JP Morgan CEO said that the ongoing banking issues have added, “another weight on the scale,” toward recession. Source: The Economic Times Dimon Talks Potential Recession In his recent letter to shareholders, Jamie Dimon spoke about the banking crisis that has recently unfolded. Specifically, he stated the closure of Silicon Valley Bank, Signature Bank, and Credit Suisse will maintain consequences that are felt for “years to come.” Now, speaking to CNN for the first time since the publication of that letter, Dimon has discussed how th...
