Business & Finance

Jamie Dimon Warns of a ‘Bad Recession’ Due to Coronavirus Crisis

JPMorgan Chase main government officer Jamie Dimon said he expects the economic fallout from the coronavirus pandemic to include things like a lousy economic downturn and pressure the fiscal technique in strategies equivalent to the 2008 fiscal crisis.

In his yearly letter to shareholders, Dimon said the largest financial institution in the U.S. was getting into the crisis from a placement of energy but the pandemic presented difficulties that were “dramatically different” from people imagined in the Federal Reserve strain assessments.

JP Morgan Chase CEO Jamie Dimon

“After the crisis subsides (and it will), our nation should thoroughly overview all areas of our preparedness and response,” Dimon said. “And we should use the option to carefully overview the economic response and decide no matter whether any more regulatory variations are warranted to improve our fiscal and economic technique. There will be a time and location for that — but not

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